August 18, 2022
(RENO, Nev.) – The Nevada Clean Energy Fund (NCEF) celebrates the recent signing of the Inflation Reduction Act into law. The law will make $369 billion available to scale solutions to climate change and bring significant energy cost savings and health benefits to Americans.
Among many other clean energy provisions, the Inflation Reduction Act establishes a Greenhouse Gas Reduction Fund, dedicating $27 billion to green bank activities that provide financing for clean energy. The Greenhouse Gas Reduction Fund was the culmination of over a decade of work led by several US Senators and supported by the Coalition for Green Capital (CGC) and 10 state governors, including Nevada Governor Steve Sisolak.
“The Nevada Clean Energy Fund is ready to leverage funding from this historic legislation to implement scalable and sustainable financing solutions that make clean energy accessible to all Nevadans,” said Kirsten Stasio, NCEF’s Executive Director.
NCEF was established by state legislation in 2017 as Nevada’s green bank, which is an institutional model that has been implemented in over a dozen US states to accelerate clean energy growth and tackle climate change, with a particular focus on underserved communities. Green banks provide financing and technical assistance for clean energy projects such as energy efficiency, electric vehicles (EVs), building electrification, and renewable energy resources. NCEF’s programs are targeted at making clean energy financing more accessible to homeowners, multi-family housing communities, small businesses, non-profits, schools, and rural areas.
"The impact of green banking is about to become very significant here in Nevada, helping us fight not just climate change, but provide help in the areas of health care, emerging small business development, job training and new opportunities for those displaced by technology, reducing unemployment and more,” said Senator Pat Spearman, author of the Senate Bill 407 that established NCEF.
The funding in the Inflation Reduction Act will enable Nevada to continue to build out its clean energy economy. Nevada is a national leader in clean energy, ranking first in per capita solar electricity generation, first in battery manufacturing capacity, and second in geothermal electricity generation.
“Nevada still has huge amounts of untapped clean energy resources to be developed,” said David Bobzien, Director of the Nevada Governor’s Office of Energy. “This boost in green bank funding has potential to further bolster Nevada’s clean energy economy and help the state reach its climate goals.”
“This potential investment in clean energy is also an investment in Nevada’s economy,” said Michael Brown, Executive Director of the Governor’s Office of Economic Development. The clean energy sector employs nearly 33,000 people in Nevada, and the state has the largest per capita solar and energy storage workforces in the nation. Directors Brown and Bobzien both sit on NCEF’s Board.
Beyond economic growth and job creation, implementing the clean energy measures in the Inflation Reduction Act for homes and businesses has the potential to significantly reduce energy costs, increase safety in the face of rising temperatures, make the air Nevadans breathe healthier, and address climate change.
About the Nevada Clean Energy Fund
The Nevada Clean Energy Fund (NCEF) is a non-profit organization that provides financing and technical assistance to accelerate clean energy growth in the state, reduce energy costs, create jobs, and address climate change. NCEF was created in 2017 by state legislation as the state’s “green bank,” an institutional model successfully implemented in a dozen other US states.
January 19, 2022
(RENO, Nev.) – The Nevada Clean Energy Fund (NCEF) Board of Directors is pleased to announce the appointment of its inaugural executive director, Kirsten Stasio. NCEF is a non-profit organization, also known as a “green bank,” designed to provide innovative financing and market solutions to accelerate the development of clean energy projects in Nevada.
“NCEF is vital to the development of Nevada’s clean energy economy,” Sharath Chandra, head of the Nevada Real Estate Division and chair of the NCEF Board of Directors, said. “We are thrilled to have Kirsten’s expertise and passion to lead the organization and build out a successful pipeline to support Nevada’s renewable energy potential and goals.”
Stasio brings over a decade of clean energy experience across the investment, policy, education, corporate and startup sectors to her new role with NCEF.
“I am honored by this opportunity to accelerate clean energy growth in Nevada,” Stasio said of her role with NCEF. “Nevada is a pioneering state on clean energy and has significant potential for growth. I look forward to helping the state harness that potential in a way that creates economic, social and environmental benefits for all Nevadans.”
Before joining NCEF, Stasio worked at MAP Energy, an energy investment firm, where she helped scale investments in renewable energy across the United States. She also previously worked at the World Resources Institute (WRI), a non-profit, where she collaborated with policymakers and other stakeholders to implement climate finance solutions. She holds a Master of Business Administration and a Master of Science from Stanford University and a Bachelor of Arts from the University of California, Davis. Kirsten moved to Nevada in 2018 with her family.
NCEF has received in-kind startup support from the Coalition for Green Capital(CGC), a non-profit that specializes in the development of green banks, in addition to support from the Governor’s Office of Energy (GOE) through repurposed American Recovery and Reinvestment Act (ARRA) funds.
“Kirsten’s experience working with stakeholders to develop and implement effective climate finance policy solutions will be vital for the launch of the NCEF,” said Jeffrey Schub, CGC’s Executive Director. “We are thrilled to bring Kirsten on board, continue our partnership with the state of Nevada and open the NCEF for business.”
About the Nevada Clean Energy Fund
The Nevada Clean Energy Fund (NCEF) provides innovative financing and market solutions to accelerate the growth of affordable and accessible clean energy in Nevada. NCEF is an independent nonprofit organization governed by a board of directors. NCEF was established by Senate Bill 407 during the 79thsession of the Nevada Legislature.
About the Governor's Office of Energy
The Governor’s Office of Energy (GOE) oversees energy programs required through statute and those that help to meet the mission of the office, which is to ensure the wise development of Nevada’s energy resources in harmony with local community economic needs and Nevada natural resources.
About the Coalition for Green Capital
CGC is a non-profit with a mission to halt climate change by accelerating investment in clean energy technologies. CGC achieves this by advocating for, creating and implementing Green Bank finance institutions. Green Banks are a proven finance model that uses public and philanthropic funds to mobilize private investment in renewable energy, energy efficiency and other decarbonization technologies. For over a decade, CGC has led the Green Bank movement, working at the federal, state and local level in the U.S. and in countries around the world. By increasing investment and accelerating the construction of clean power, CGC is helping deliver a cleaner, better future.
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