Local Option - Commercial PACE Financing (Utah)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Local Option - Commercial PACE Financing|
|Incentive Type||PACE Financing|
|Applicable Sector||Commercial, Industrial, Nonprofit, Local Government, State Government, Fed. Government, Multi-Family Residential|
|Eligible Technologies||Equipment Insulation, Lighting, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Custom/Others pending approval, Solar Water Heat, Photovoltaics, Wind, Geothermal Electric, Geothermal Heat Pumps, Daylighting, Small Hydroelectric, Other Distributed Generation Technologies|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Date added to DSIRE||2013-04-02|
|Last DSIRE Review||2013-04-02|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Senate Bill 221 of 2013 authorizes local governments to adopt Commercial* Property Assessed Clean Energy (C-PACE) financing programs. C-PACE allows property owners to finance energy efficiency and renewable energy improvements on their properties through a special assessment on their property tax bill, which is repaid over a period of time not to exceed 20 years. A local government must first pass an assessment resolution or ordinance before its commercial property owners can participate, and commercial property owners must opt to have their property designated as a voluntary assessment area.
To qualify as a voluntary assessment area, the owner of the property must provide:
- The written consent of each person or institution holding a lien on the property
- Evidence that there are no delinquent taxes, special assessments, or water or sewer charges on the property
- Evidence that the property is not subject to a trust deed or other lien on which there is a recorded notice of default, foreclosure, or delinquency that has not been cured, and
- Evidence that there are no involuntary liens, including a lien on real property, or on the proceeds of a contract relating to real property, for services, labor, or materials furnished in connection with the construction or improvement of the property.
A local entity that designates a voluntary assessment area must provide to each participating property owner with a list of qualified service providers authorized by the local entity to provide the energy efficiency upgrade or renewable energy system. A participating property owner must select a service provider from the list to perform the work.
- The types of property eligible for C-PACE in Utah include property used for the following purposes: commercial, mining, industrial, manufacturing, governmental, trade, professional, a private or public club, a lodge. Multifamily residential buildings with four or more rental units, and property owned by the federal government or a public agency also qualify.
|Contact Name||Denise Beaudoin Brems|
|Department||Office of Energy Development|
|Address||60 East South Temple Street, Suite 300|
|Address 2||PO Box 144845|
|Place||Salt Lake City, Utah|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||SB 221|