What is the Nevada Clean Energy Fund?
In 2017, Senate Bill 407 established an independent, nonprofit corporation called the Nevada Clean Energy Fund (NCEF) to help finance clean energy projects in Nevada. SB 407 also created the Board of Directors and set forth the duties of the Board. SB 407 was codified as NRS 701B.930-995.
NCEF officially launched in January 2022 with the announcement of its inaugural executive director, Kirsten Stasio.
NCEF was established to:
- provide funding for, and increase significantly, the pace and amount of financing available for qualified clean energy projects in Nevada
- improve the standard of living by promoting more efficient and lower cost clean energy projects that create high-paying, long-term jobs
- foster the development of transparent underwriting standards, standard contractual terms, and measurement and verification protocols for clean energy projects
- promote the creation of performance data that enables effective underwriting, risk management and pro forma modeling of financial performance of qualified clean energy projects to stimulate the development of secondary investment markets
- achieve a level of financing support for clean energy projects in Nevada to help abate climate change and realize energy efficiency potential