Local Option - Industrial Facilities and Development Bonds

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Eligibility: 
Commercial
Industrial
Institutional
Savings Category: 
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
Maximum Rebate: 

Locally Determined

Program Info
Sector Name: 
State
Administrator: 
Programs are administered at the local level
State: 
Utah
Program Type: 
Bond Program
Rebate Amount: 

Locally Determined

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.