|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|
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:
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.