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Local Option - Commercial PACE Financing

Last Review: 2013-04-02
Incentive Type: PACE Financing
Eligible Efficiency 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
Applicable Sectors: Commercial
Website:

Summary:

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:
Jeffrey Barrett
Office of Energy Development
195 N 1950 West, 2nd Floor
PO Box 146100
Salt Lake City, UT 84116
Phone:(801) 536-0210 Ext.
Phone 2:()
Email: jhbarrett@utah.gov
Web site: http://www.energy.utah.gov/

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