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State incentives

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Critical Minerals Strategic Act (SB 254, 2026) and Critical Minerals Development AccountCreates critical minerals zones with property tax differential, a Critical Minerals Development Account that can provide incentives for extraction or processing projects and matching funds for federal grants, and a Critical Minerals Council.grant · Critical minerals · Reported $25.8 million in authorized funding for the MINES research center and council (per advocacy summary)
Energy Development Infrastructure Fund (HB 545, 2026 budget bill)Revolving loan fund overseen by the Office of Energy Development to support nuclear energy and transmission projects, as reported from the 2026 legislative session; enacted text not independently verified.loan · Nuclear, Transmission
Energy Development Investment Fund and Electrical Energy Development Investment Fund (HB 249, 2025 Nuclear Power Amendments)Two state investment funds, fed partly by tax increment from designated energy development zones, to de-risk and incentivize energy infrastructure projects including advanced nuclear, administered by the Utah Energy Council.grant · Nuclear, Transmission, Geothermal, Storage
High Cost Infrastructure Tax Credit (HCITC)Non-refundable post-performance credit for infrastructure investments such as energy delivery systems, utility-scale battery storage, and nuclear power, certified by the Utah Office of Energy Development and approved by the Utah Energy Infrastructure Authority Board.tax credit · Nuclear, Storage, Transmission, Geothermal · 30% of qualifying infrastructure-related state revenue per year, with total credit capped at 50% of infrastructure cost
Nuclear Energy Regulatory Office (HB 78, 2026)State office within the Division of Air Quality that licenses, inspects, and enforces nuclear energy activities and directs pursuit of expanded Agreement State status with federal regulators.mandate or standard · Nuclear
Renewable Energy Systems Tax Credit (includes geothermal, hydrogen production, and geothermal production credit)Income tax credit for geothermal (electric and direct-use), hydrogen production, and other renewable systems, administered by the Office of Energy Development; commercial credit is refundable, and it ends for systems placed in service after January 1, 2028.tax credit · Geothermal, Hydrogen · Commercial: 10% of system cost up to $50,000; residential: 25% up to $2,000 (one source lists $1,600); geothermal electricity production credit of $0.0035/kWh for 48 months for projects 660 kW or larger
Rural Economic Development Tax Increment Financing (REDTIF)Post-performance state tax credit administered by the Governor's Office of Economic Development, used for rural expansions; awarded to a tungsten and antimony producer in Iron County.tax credit · Critical minerals · 40% REDTIF tax credit rate in the Trigg Minerals award
Utah FORGE geothermal state grant (Governor's Office of Economic Development)State grant approved by the Governor's Office of Economic Development in conjunction with the Frontier Observatory for Research in Geothermal Energy, tied to a project with 23 new jobs and over $100 million capital investment; this is an older award and may not be a recurring program.grant · Geothermal · $365,000