Utah Housing Corporation Adopts New Incentives For Energy Innovations In Affordable Housing

Thanks to the new 2024 Federal and State Housing Credit Program Allocation Plan approved by the Utah Housing Corporation board, affordable housing developments in Utah are improving their energy efficiency and electric vehicle charging. EV charging access will be expanded and more energy-efficient developments will be built. Low-income households in the community will be able to gain access to energy-efficient and electrified homes through these new incentives.

This plan establishes that low-income families can enjoy energy-efficient, comfortable, and healthy housing options. In the past, the Plan rewarded bonus points to affordable housing developments that met the Enterprise Green Community standard; however, in the updated Plan for 2024, the eligibility for these bonus points has been extended to affordable housing projects that meet one of the following energy efficiency and green building standards:

• ENERGY STAR NextGen
• Green Globes
• LEED certification
• National Green Building Standard
• Passive House
• Zero Energy Ready Home
• WELL Building Standard

Multifamily affordable housing developments that add EV charging stations are also eligible for additional bonus points. This will help to increase the adoption of electric vehicles by alleviating the lack of easy access to charging stations for EVs. Developers will be awarded for installing either Level 2 or DC Fast Charging facilities for the use of affordable housing tenants. This complements other incentives, such as Rocky Mountain Power rebates for EV charging and other investments that prepare sites for future installation of EV charging. It’s also part of a $4,000 federal tax credit that will help low- and moderate-income families purchase pre-owned electric vehicles. Additionally, the new certification expands on energy efficiency and affordability beyond Energy Star-certified construction to incorporate high-efficiency electric equipment. This plan will oversee the allocation of housing tax credits to projects that provide affordable housing.

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