A fundamental aim of both the State’s energy policy and the Governor’s 10-Year Strategic Energy Plan is to let the market drive energy resource development and shape our electric generation resource portfolio. Nevertheless, both documents also make it clear that tax incentives and public-private partnerships should have a targeted, modest role in advancing energy development in Utah.
Funding & Incentives
Financing & Loans
Tax free revenue bonds may be issued by the state to help advance “energy delivery projects” – power lines and pipelines – that facilitate responsible energy development.
The Investment Tax Credit is worth 25% of eligible system cost or $2,000, whichever is less, for residential installations, and 10% of eligible system cost or $50,000, whichever is less, for commercial installations. Eligible technologies include solar photovoltaic, solar thermal, wind, geothermal, hydro, and biomass.more >>
Rocky Mountain Power delivers electricity to customers in Utah, Wyoming and Idaho, is headquartered in Salt Lake City, Utah. It offers a variety of incentives through the “wattsmart” program.
The Energy Policy Act of 2005 included a new tax incentive, backed and advocated by the National Electrical Manufacturers Association (NEMA) and the Natural Resources Defense Council (NRDC), to improve the energy efficiency of commercial buildings.more >>