Solar & Battery Regulation & Incentive Programs

Local Option - Industrial Facilities and Development Bonds

Program Overview


Category:
Financial Incentive
Program Type:
Bond Program
Implementing Sector:
State
State:
Utah
Eligible Storage Technologies:
Solar Water Heat, Geothermal Electric, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Hydroelectric, Geothermal Heat Pumps, Combined Heat & Power, Daylighting, Equipment Insulation, Lighting, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Heat recovery, Compressed air, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Other EE, Wind (Small), Hydroelectric (Small), Geothermal Direct-Use, LED Lighting
Website:
http://www.edcutah.org/businessincentives.php
Incentive Amount:
Locally Determined
Maximum Incentive:
Locally Determined
Terms:
Locally Determined
Administrator:
Programs are administered at the local level
Applicable Sectors:
Commercial, Industrial, Institutional
Last Updated:
05/09/2016

Summary

Under the Utah Industrial Facilities and Development Act, counties, municipalities, and state universities in Utah may issue Industrial Revenue Bonds (IRBs) or Industrial Development Bonds (IDBs) to promote industrial development and manufacturing facilities. In 2013, Utah extended eligible projects to include energy efficiency upgrades and renewable energy systems. Municipalities may issue revenue bonds in order to finance eligible projects. Proceeds from the sale of bonds may be used to pay for or to reimburse a the project owner, project user, or a lender for the costs of the project. With the added provision to allow reimbursement to lenders, the issuance of bonds may be used by a municipality to create a local loan program, in addition to direct financing of projects.

 


Authorities

NameEnacted DateEffective DateExpired Date
Utah Code 11-17