Legislature Sends Clean Energy Investment Bill to Governor to Help Families and Small Businesses Save on Energy Costs

Carson City, NV – The Nevada Clean Energy Fund (NCEF) applauds the passage of Senate Bill 132 (SB132) by the Nevada Legislature. SB132 received bipartisan support in the Senate (14-6) and Assembly (36-6). Governor Lombardo has until June 13 to take action on the legislation, which appropriates $500,000 to NCEF. The funding will support the organization’s mission of lowering Nevadans’ energy bills, filling market gaps, and creating a local clean energy economy that works for everyone.

“I can’t think of an organization that better illustrates what legislators should be looking at when we are determining where to invest state dollars. With the $1 million the state allocated to NCEF in 2023, the organization was able to bring over $200 million in federal, private, and philanthropic funding to the state,” said Senator Rochelle Nguyen, sponsor of SB132. “For every $1 appropriated to NCEF, every constituent gets back $200. It’s just a smart investment.”

“I want to thank Senator Nguyen for introducing this legislation and for her leadership in getting it to Governor Lombardo’s desk,” said Kirsten Stasio, CEO of the Nevada Clean Energy Fund. “From the very beginning, she understood that an investment in NCEF is an investment in Nevada communities because every single one of our programs reduces energy costs for people where they live, work, and go to school. If Governor Lombardo signs SB132, he will strengthen our capacity to attract more funding into the state to reach even more Nevadans.”

There was broad support for SB132 during the bill hearings before the Senate Committee on Finance and the Assembly Committee on Ways and Means, where legislators heard testimony from affordable housing developers, clean energy leaders, tribal advocates, a trade council, environmental organizations, and community non-profits.

“There’s a robust financing industry for large clean energy projects in Nevada, but there is a significant gap in funding for the markets that NCEF is coming out directly to serve: low-income and moderate-income residents, multifamily housing, tribes, and small businesses,” said Tim Farkas, Director of Finance at Ameresco. “NCEF was created to fill that need and they’re doing it. Every dollar that comes from the Legislature will be supporting jobs and helping Nevadans save money.”

“By serving populations and sectors that have not experienced the benefits of our state’s booming clean energy industry, NCEF is uniquely positioned to continue to advance Nevada’s key energy policy goals,” said industry leader and Chair of the NCEF Advisory Council, Rose McKinney-James. “Since beginning operations in 2022, NCEF has demonstrated its capacity and its ability to become a valued and important asset for the state. It’s well worth the investment.”

“NCEF has provided technical and financial assistance for our union-built affordable housing and will create nearly 1,000 high-quality jobs through its Nevada Solar for All program over the next four years,” said Rob Benner, Secretary-Treasurer of The Building and Construction Trades Council of Northern Nevada. “The Nevada Clean Energy Fund is an investment in Nevada and its people. We strongly support the state investment in SB132.”

“Rural areas often face unique challenges in accessing clean energy resources due to limited infrastructure and funding. An investment in NCEF will help bridge these gaps, facilitating projects in underserved regions that reduce energy costs for rural Nevadans,” said Beth Dunning, Director of Community Development at Nevada Rural Housing. “This is a forward-thinking investment and we urge the Governor to support it.”

“Many Nevadans are struggling with the high cost of living. Utility bills are a major expense for households and small businesses, especially during the summer. NCEF’s programs give working families and seniors on fixed incomes the tools they need to lower their bills and improve their quality of life,” said Dr. Mary L. House, CEO of CHR, Inc. and chair of NCEF’s Persistent Poverty Community Council. “An investment in NCEF will benefit communities across the state.”

About the Nevada Clean Energy Fund  The Nevada Clean Energy Fund (NCEF) is a nonprofit organization that supports a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to Nevadans. NCEF was established by Nevada legislation in 2017 as the state’s green bank. NCEF implements programs for diverse Nevada stakeholders, including affordable housing, Tribes, nonprofits, schools, local governments, and rural communities. Clean energy measures include building electrification and efficiency, renewable energy, clean vehicles, and others.  

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