The Nevada Clean Energy Fund

What The Nevada Clean Energy Fund does

The Nevada Clean Energy Fund (NCEF) is a nonprofit green bank established by Nevada state legislation in 2017 under NRS 701B (Senate Bill 407) and headquartered in Reno, Nevada, with additional operations in Las Vegas. The organization operates as a financing entity and program administrator rather than a technology platform, deploying capital and technical assistance to accelerate clean energy adoption across Nevada households, businesses, schools, tribes, and local governments. NCEF's core product portfolio comprises the Residential Energy Upgrade Program (RE-UP), which provides unsecured consumer loans of $3,000–$50,000 at fixed rates of 7.50%–12.00% over 3–10 year terms for energy efficiency and clean energy upgrades; C-PACE (Commercial Property Assessed Clean Energy) financing administered for Nevada municipalities including Wells and Carlin; the Solar for All program (a $156M EPA grant for residential solar in underserved communities); the Electric School Bus program (an $8.7M EPA grant deploying 25 electric buses across five school districts); and fleet electrification planning services for municipalities in partnership with HDR Inc. Supporting offerings include federal tax credit navigation, school clean energy resources, contractor training programs, and an online RE-UP loan calculator.

Revenue derives from four streams: loan interest income on the RE-UP portfolio (including a 5% origination fee and $40 UCC-1 filing fee on certain products), C-PACE financing transaction fees, federal and state grant administration overhead (Solar for All, Clean School Bus), and philanthropic grants from sources including the NV Energy Foundation. The go-to-market combines direct web-based self-service applications with partner-mediated distribution through NV Energy, tribal councils, school districts, municipalities, and a vetted contractor network. Marketing is primarily educational and community-led, relying on webinars, virtual press conferences, and grassroots outreach rather than traditional sales motions.

Since inception NCEF has secured approximately $165.4 million in federal grants, $5 million in state appropriations (SB132 in June 2025), and additional philanthropic capital. Major strategic partners include NV Energy, the Nevada Division of Environmental Protection, World Resources Institute, Coalition for Green Capital, ICLEI USA, the Nevada Governor's Office of Energy, and the Empowerment Center. The organization has collaborated with seven Nevada tribes to claim over $3 million for home energy upgrades and is positioned as the state's primary aggregator for federal clean energy funding, though the August 2025 EPA termination of the Solar for All program represents a material headwind to its deployment pipeline.

Name

The Nevada Clean Energy Fund

Legal name

Nevada Clean Energy Fund

Website

https://nevadacef.org

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

The Nevada Clean Energy Fund is Nevada's legislatively established nonprofit green bank that provides unsecured residential energy upgrade loans (RE-UP), C-PACE commercial financing, and administers federal grants for solar, electric school buses, and fleet electrification serving households, schools, tribes, municipalities, and businesses statewide.

Ownership category

akta.pro rank

Product category

Green Banking / Clean Energy Financing

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Wind Electric Power Generation (221115)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Energy Efficiency & Green Retrofit Financing (FSALAHAK)

akta.pro secondary industries

Renewable Energy & Energy Transition Funds (FSANAJAB), Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)

Keywords

• Clean energy financing
• Green bank services
• Residential energy loans
• C-PACE administration
• Clean energy program administration

Headquarters

HQ city

Reno

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Loan Interest Income: NCEF originates unsecured loans (RE-UP) ranging from $3,000 to $50,000 at fixed interest rates of 7.50%-12.00% for residential energy upgrades including heat pumps, roofing, solar, insulation, and EV chargers. Revenue is generated through interest accrual over the loan term. Loans include a 5% origination/project coordination fee and a $40 UCC-1 filing fee for certain product types.
2. C-PACE Financing: NCEF serves as C-PACE program administrator for municipalities (City of Wells, City of Carlin, and others) and as an investor in C-PACE projects across Nevada. C-PACE generates revenue through financing arrangements tied to property tax assessments for commercial building energy improvements.
3. Federal and State Grant Administration: NCEF receives and administers federal grants such as the $156 million Solar for All grant and the $8.7 million EPA Clean School Bus grant. As administrator, NCEF receives funds to deploy programs supporting solar installations, electric school buses, and tribal clean energy upgrades. Administrative costs are covered by grant funds.
4. Grant and Philanthropic Funding: NCEF receives philanthropic grants such as a $550,000 grant to expand access to federal clean energy funds and a $100,000 NV Energy Foundation grant to expand the tribal clean energy program. These grants support program development and capacity building.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

The Nevada Clean Energy Fund operates a portfolio of financing programs and technical assistance services for Nevada households, businesses, schools, tribes, and local governments pursuing energy efficiency and clean energy upgrades. Its flagship offering is the Residential Energy Upgrade Program (RE-UP), which provides unsecured loans of $3,000–$50,000 at 7.50%–12.00% fixed interest for heat pumps, solar, insulation, roofing, and EV chargers, paired with a vetted contractor network and federal/utility incentive navigation. Additional programs include C-PACE commercial financing, Solar for All, Electric School Bus deployment, and municipal fleet electrification planning.

Product overview

The Nevada Clean Energy Fund (NCEF) is a nonprofit green bank established by Nevada state legislation in 2017. Rather than a single software product, NCEF operates a portfolio of financial programs and technical assistance services that collectively form its clean energy financing platform. The core consumer product is the Residential Energy Upgrade Program (RE-UP), an unsecured loan program ($3,000–$50,000) for home energy upgrades that bundles financing with a vetted contractor network and federal/utility incentive navigation. Supporting programs include the Solar for All Program (a $156M EPA grant for solar installations in underserved communities), the Electric School Bus Program (an $8.7M EPA grant for fleet electrification in schools), and C-PACE financing (commercial property assessed clean energy financing). NCEF also provides Federal Tax Credits & Incentives Guidance, School Clean Energy Resources, Contractor Resources & Training, an online RE-UP Loan Calculator, and Fleet Electrification Planning Services for municipalities. The product ecosystem is unified by NCEF's mission to make clean energy accessible and affordable across Nevada households, businesses, schools, tribes, and governments.

Differentiator

Problem solved

Functional benefit

Brands

• RE-UP: Residential Energy Upgrade Program — an unsecured loan program for Nevada homeowners to finance energy efficiency and clean energy upgrades such as heat pumps, insulation, roofing, and solar.
• C-PACE

Products and services

• Residential Energy Upgrade Program (RE-UP) RE-UP provides Nevada homeowners with unsecured loans ($3,000-$50,000; 7.50%-12.00% fixed interest; 3-10 year terms) for energy efficiency and clean energy upgrades including heat pumps, insulation, roofing, solar, and EV chargers. Includes a vetted contractor network and free technical support to stack federal and utility incentives.
• Solar for All Program A $156 million federal grant program administered by NCEF through the EPA's Greenhouse Gas Reduction Fund to promote solar energy access in Nevada. Supports solar installations and education efforts across underserved communities, including affordable housing properties, community solar hosts, and individual homeowners.
• Electric School Bus Program NCEF partners with school districts across Nevada to deploy electric school buses, backed by an $8.7 million EPA Clean School Bus Grant and NV Energy's Electric School Bus Vehicle-to-Grid Trial Program. Services include free technical support for funding applications, route planning, charger selection, and OEM procurement, plus a Total Cost of Ownership tool.
• Commercial Property Assessed Clean Energy (C-PACE) Financing NCEF serves as C-PACE program administrator for the Cities of Wells and Carlin and as an investor in C-PACE projects statewide. C-PACE ties repayment to a special tax assessment on the property, unlocking low-cost private financing for commercial properties to install energy, water, and resiliency improvements such as high-efficiency HVAC, solar PV, battery storage, insulation, and efficient lighting.
• Federal Tax Credits & Incentives Guidance NCEF provides guidance and intake coordination for federal clean energy tax credits including Section 25C (up to $3,200 for energy-efficient home improvements including heat pumps), Section 25D (up to 30% for residential clean energy such as solar panels and battery storage), Section 30C (up to $1,000 for EV charger installation), Section 30D (up to $7,500 for new EVs), and credits for used EVs (up to $4,000). NCEF helps homeowners and businesses stack these incentives alongside its financing programs.
• School Clean Energy Resources NCEF provides K-12 schools in Nevada with resources covering energy efficiency, renewable energy transitions (solar, geothermal, biomass), and sustainability education. Includes guidance on sourcing green power through the EPA's Green Power Partnership and connections to STEM and sustainability curricula through local nonprofit Envirolution.
• Contractor Resources & Training NCEF provides contractors and building professionals with resources including the Contractor's Guide to Electric Appliance Technology (covering heat pumps, heat pump water heaters, and induction cooktops), the RMI Green Upgrade Calculator for modeling residential decarbonization solutions, and BPI & Cold Climate Air Source Heat Pump (ccASHP) training and certification programs through ICAST. NCEF also maintains a vetted contractor network for its RE-UP program.
• RE-UP Loan Calculator An online calculator that enables Nevada homeowners to estimate monthly payments, total interest, and total loan costs for RE-UP financing across different project types (Solar, HVAC, Home Improvements). Compares RE-UP financing against other provider financing, illustrating savings from RE-UP's no-dealer-fees and 5% origination/project coordination fee model versus typical dealer fees of 20%.
• Fleet Electrification Planning Services NCEF provides municipalities with comprehensive fleet electrification infrastructure planning through partnerships with ICLEI – Local Governments for Sustainability USA and the Coalition for Green Capital. Services include EV charging infrastructure concept design, cost analysis, utility coordination, and implementation roadmaps. NCEF partnered with HDR, Inc. and NV Energy on fleet electrification plans for the City of Reno and Washoe County.

Quantifiable outcome

• NCEF's existing programs are projected to create over 1,000 clean energy jobs in Nevada within five years
• +5 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

18 partnerships are on record, tiered secondary and core.

• City of WellssecondaryStrategic or Co-development Partner · 17 March 2026The City of Wells selected NCEF as its C-PACE program administrator, enabling commercial property owners in this rural Nevada community to access C-PACE financing for energy, water, and resiliency improvements.
• City of CarlinsecondaryStrategic or Co-development Partner · 17 March 2026The City of Carlin partnered with NCEF for C-PACE program administration, allowing local businesses and property owners to finance building improvements through the special tax assessment mechanism that C-PACE enables.
• The Empowerment CentersecondaryStrategic or Co-development Partner · 8 July 2025NCEF committed nearly $1 million to The Empowerment Center's new sober living facility in Reno under the Solar for All program, enabling solar-powered affordable housing for women in recovery.
• Seven Nevada TribescoreStrategic or Co-development Partner · 30 June 2025Seven Nevada tribes collaborated with NCEF to claim over $3 million in funding for home energy upgrades under tribal clean energy programs, demonstrating NCEF's role as a central aggregator for federal clean energy funds targeting tribal communities.
• HDR, Inc.coreImplementation/ SI/ Consulting Partner · 20 April 2025HDR was selected through a competitive procurement process to develop fleet electrification infrastructure plans for the City of Reno and Washoe County in partnership with NCEF. HDR developed detailed EV charging infrastructure concept designs and cost analyses with support from NV Energy, providing technical expertise for municipal fleet electrification.
• City of RenocoreStrategic or Co-development Partner · 20 April 2025The City of Reno partnered with NCEF to develop a comprehensive fleet electrification infrastructure plan. Following the initial study, the City retained HDR for a follow-up detailed design and construction documents for EV charging infrastructure at the City Hall Parking Garage, demonstrating a deepening partnership.
• Washoe CountycoreStrategic or Co-development Partner · 20 April 2025Washoe County partnered with NCEF and the City of Reno to develop a fleet electrification plan covering two Washoe County facilities. The partnership evaluated EV charging infrastructure needs and provided actionable recommendations for light-duty fleet electrification.
• Coalition for Green Capital (CGC)coreStrategic or Co-development Partner · 20 April 2025CGC supported the Municipal Investment Fund (MIF) project that enabled NCEF's partnership with the City of Reno and Washoe County for fleet electrification planning. CGC is also credited with leading the decade-long effort that resulted in the $27 billion Greenhouse Gas Reduction Fund in the Inflation Reduction Act, of which NCEF is a beneficiary.
• ICLEI - Local Governments for Sustainability USAsecondaryStrategic or Co-development Partner · 20 April 2025ICLEI USA supported the Municipal Investment Fund (MIF) project that facilitated NCEF's fleet electrification partnership with Reno and Washoe County, providing additional expertise and credibility for municipal clean energy planning.
• Nevada clean energy workforce training initiativesecondaryStrategic or Co-development Partner · 9 January 2025NCEF launched an initiative to train Nevada's clean energy workforce, creating job training and workforce development programs to support the growing clean energy economy in Nevada.
• Walker River Paiute TribecoreStrategic or Co-development Partner · 12 December 2024NCEF partnered with the Walker River Paiute Tribe on a $20 million EPA Community Change Grant to fund water infrastructure, home weatherization, solar power, and a Community Resilience and Food Storage Hub for 1,200 tribal members. The grant was subsequently terminated by the EPA in May 2025 under the Trump administration's executive order.
• NV EnergycoreStrategic or Co-development Partner · 10 January 2024NV Energy is a key strategic partner in multiple NCEF programs including the EPA Clean School Bus initiative and fleet electrification planning. NV Energy provides co-funding through its Electric School Bus Vehicle-to-Grid Trial Program and assists with utility grid coordination for EV charging infrastructure. NCEF and NV Energy co-develop programs that stack utility rebates with federal grants and NCEF financing to maximize benefits for Nevada schools and communities.
• Nevada Division of Environmental Protection (NDEP)coreStrategic or Co-development Partner · 10 January 2024NDEP partners with NCEF on the EPA Clean School Bus grant, contributing Volkswagen Settlement Funds administered by NDEP. NDEP's Administrator Jennifer Carr has publicly endorsed the collaboration, noting the partnership's role in reducing greenhouse gases and harmful air pollutants in Nevada's communities.
• World Resources Institute (WRI) - Electric School Bus InitiativecoreStrategic or Co-development Partner · 10 January 2024WRI's Electric School Bus Initiative is a core partner in the $8.7M EPA Clean School Bus grant application led by NCEF. WRI provides national expertise, program support, and technical resources. WRI collaborated with NCEF to develop the Electric School Bus webinar series for Nevada school districts.
• EnvirolutionsecondaryStrategic or Co-development Partner · 1 January 2024Envirolution is a Nevada-based nonprofit focused on K-12 sustainability and STEAM education. NCEF partners with Envirolution to develop educational curricula and materials about electric school buses for students, integrating clean energy education into Nevada schools.
• ICASTsecondaryImplementation/ SI/ Consulting Partner · 1 January 2024ICAST provides free online training programs including heat pump design, installation, maintenance, and building science basics for contractors. NCEF recommends ICAST's training for heat pump installers and recognizes contractors who complete these programs on its contractor page.
• Nevada Governor's Office of EnergycoreStrategic or Co-development Partner · 18 August 2022The Nevada Governor's Office of Energy is a key state partner, with Director David Bobzien sitting on NCEF's Board. The office works with NCEF on clean energy policy and program alignment, including coordination on the federal Home Energy Rebates program from the Inflation Reduction Act.
• Nevada Governor's Office of Economic DevelopmentsecondaryStrategic or Co-development Partner · 18 August 2022The Governor's Office of Economic Development collaborates with NCEF on clean energy workforce development and economic growth initiatives. Executive Director Michael Brown sits on NCEF's Board.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Others

• Green Bank Network: Network of state, local, and international green banks maintained by the Coalition for Green Capital. NCEF is a member; the network serves as an industry peer-group and knowledge-sharing platform directly comparable to NCEF's institutional positioning.

Regional players

• NYSERDA: New York's state energy research and development authority that administers residential financing (NY-Sun), C-PACE, and clean energy incentive programs. Directly comparable in program architecture to NCEF, operating in a different geography.
• Massachusetts Clean Energy Center (MassCEC): State-level clean energy economic development organization that funds clean energy deployment, workforce development, and innovation in Massachusetts. Comparable mission and structure to NCEF, though operating in a different state with broader scope beyond financing.

Direct peers

• Connecticut Green Bank: The pioneering U.S. state green bank, established in 2011, which inspired the model NCEF replicates. Operates similar residential financing (Smart-E Loan), C-PACE (Commercial PACE), and clean energy deployment programs in Connecticut. Most direct functional peer.
• Climate United: One of the three Greenhouse Gas Reduction Fund awardees under the EPA's $7B Solar for All program. Operates as a national coalition deploying capital into residential and community solar — overlapping mission and capital source with NCEF.
• NY Green Bank: A division of NYSERDA, NY Green Bank is a state-level green bank that mobilizes private capital into clean energy projects in New York. Provides a directly comparable institutional model for NCEF, though at much larger scale.
• Coalition for Green Capital: National nonprofit that helped design and stand up state green banks including NCEF, and led the policy effort behind the $27B Greenhouse Gas Reduction Fund. Operates the GreenBank Network and Capital Absorption Facilities — directly comparable enabling partner.
• Colorado Clean Energy Fund: A nonprofit green bank launched in Colorado with similar mission to deploy clean energy financing in underserved communities. Operates residential loan programs (Inclusive Financing for All) and C-PACE — closely comparable in structure and segment focus to NCEF.
• Power Forward Communities: Another Greenhouse Gas Reduction Fund awardee led by a coalition of green banks and CDFIs to deploy community solar in low-income communities. Directly comparable program scope and beneficiary focus to NCEF's Solar for All deployment.

Emerging players

• Clean Energy Credit Union: A federally-chartered credit union providing clean energy loans (autos, homes, solar) nationwide with focus on sustainability. Comparable consumer-facing clean energy lending model to NCEF's RE-UP program, though operates as a depository institution rather than a green bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NevadaCEF

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Nevada Clean Energy Fund