The Nevada Clean Energy Fund is an independent organization established by the State of Nevada to serve as the state’s “Green Bank,” which uses incentive and loan programs to promote weather-dependent energy technologies favored by environmentalists. ¹

Background

The Nevada Clean Energy Fund was established in 2017 by the State of Nevada to serve as the state’s “Green Bank” and provide incentive and loan programs supporting the adoption and development of weather-dependent energy sources favored by environmentalists to municipal governments, tribes, contractors, schools, and residents in the state of Nevada. The legislation establishing the organization noted that in the context of the organization’s mission that “renewable energy” includes solar, wind, geothermal, “non-hazardous, organic biomass,” tidal currents, and any other sources that replenish their capacity to provide energy over “human,” rather than “geological” scales of time. ^{2 1}

Per its establishing legislation, the Nevada Clean Energy Fund’s board of directors at the time of its founding consisted of State of Nevada office-holders, such as the Director of the Office of Energy, the Executive Director of the Office of Economic Development, the Real Estate Administrator of the Department of Business and Industry (or, in some cases, officeholders’ designees), as well as members appointed by the Governor of Nevada from lists of nominees provided by Nevada labor organizations and the Nevada Board of County Commissioners. ²

In June 2022, the Nevada Clean Energy Fund acquired federal tax-exempt status as a 501(c)(3) nonprofit organization, registering with an address in Reno, Nevada. ³

Biden Administration Grant

On April 22, 2024, the Biden administration announced that the Nevada Clean Energy Fund was selected as one of the winners of the Solar for All grant competition to receive funding from the Greenhouse Gas Reduction Fund developed pursuant to the Inflation Reduction Act in order to develop solar energy programs for poor and “disadvantaged” communities. ⁴

Leadership

As of 2025, Sharath Chandra was the chair of the Nevada Clean Energy Fund’s board of directors as well as the Real Estate Administrator of the State of Nevada’s Department of Business and Industry. ¹

As of 2025, Kirsten Stasio was the chief executive officer of the Nevada Clean Energy Fund as well as an adjunct lecturer at Stanford University in Atmosphere and Energy. Previously, Stasio worked at MAP Energy, the World Resources Institute, Pacific Gas and Electric (PG&E), and Apple. ^{5 1}

Ela Heussen is the chief operating officer and chief financial officer of the Nevada Clean Energy Fund. Previously, she worked as the director of corporate strategy as Abreos Biosciences. ^{6 1}

Asheesh Bhalla is the general counsel of the Nevada Clean Energy Fund. Previously, he was the founder and advisor to the Family Health Organization of Afghanistan, the founder and chairman of Skateistan U.S., deputy general counsel in the Office of the Nevada Attorney General, and an attorney with Cravath, Swaine, and Moore. ⁷ “About NCEF.” Nevada Clean Energy Fund. Accessed April 21, 2025. https://nevadacef.org/about/.[/note]

1. “About NCEF.” Nevada Clean Energy Fund. Accessed April 21, 2025. https://nevadacef.org/about/.
2. “CHAPTER 701B – RENEWABLE ENERGY PROGRAMS.” Nevada Legislature. Accessed April 21, 2025. https://www.leg.state.nv.us/NRS/NRS-701B.html#NRS701BSec930.
3. “Nevada Clean Energy Fund.” ProPublica. Accessed April 21, 2025.https://projects.propublica.org/nonprofits/organizations/824784502.
4.  “Biden-Harris Administration Announces Over $156 Million to Deliver Residential Solar, Lowering Energy Costs and Advancing Environmental Justice Across Nevada.” Environmental Protection Agency. April 22, 2024. Accessed April 21, 2025. https://www.epa.gov/newsreleases/biden-harris-administration-announces-over-156-million-deliver-residential-solar.
5. “Kirsten Stasio.” Stanford University. Accessed April 21, 2025. https://profiles.stanford.edu/kirsten-stasio#:~:text=Kirsten%20began%20teaching%20at%20Stanford,the%20University%20of%20California%2C%20Davis.
6. “Ela Heussen.” Crunchbase. Accessed April 21, 2025. https://www.crunchbase.com/person/ela-heussen-e2fd.
7. “Asheesh Bhalla.” WellFound. Accessed April 21, 2025. https://wellfound.com/p/asheesh-bhalla.