Operating systems store and retrieve the time in the hardware clock located on your motherboard so that it can keep track of the time even when the system does not have power. Most operating systems (Linux/Unix/Mac) store the time on the hardware clock as UTC by default, though some systems (notably Microsoft Windows) store the time on the hardware clock as the 'local' time. This causes problems in a dual boot system if both systems view the hardware clock differently.
The advantage of having the hardware clock as UTC is that you don't need to change the hardware clock when moving between timezones or when Daylight Savings Time (DST) begins or ends as UTC does not have DST or timezone offsets.