Utah’s PACE program offers financing up to $90,000 for projects over terms of up to 30 years for renewable energy and energy efficiency projects. Savings generated from new energy investments must outweigh costs and yield a positive cash flow over time, allowing for repayment. To
The Alternative Energy Development Incentive (AEDI) program provides a fixed, post-performance credit worth up to 75% of state tax liability for 20 years for projects using solar, biomass, or geothermal resources. The incentive only supports projects that produce energy equivalent to 1,000 barrels of oil
Utah offers a tax credit for commercial renewable energy systems. Any taxpayer owning a commercial energy system can claim this credit for geothermal, solar thermal, and biomass systems. Biomass systems must produce either fuel or electricity. The credit amount cannot exceed 10% of the eligible
This tax credit may be claimed by taxpayers owning a hydrogen production system. The hydrogen must be produced using either a renewable energy source (green hydrogen) or renewable natural gas. Credits of $0.12 per kg of hydrogen produced may be claimed in a tax year,
Utah’s Renewable Portfolio Goal law requires that investor owned utilities, municipal utilities, and electric cooperatives must derive 20% of adjusted retail electric sales from renewable resources by 2025. However, Utah only requires these utilities to pursue the goal to the extent that it is cost-effective.
Local governments are authorized to issue Industrial Revenue Bonds to finance energy efficiency upgrades and renewable energy projects for industrial and manufacturing development. Local governments are empowered to issue bonds for direct financing or to create loan programs.
