Hillary Clinton has outlined a series of plans to encourage investment in clean energy in the US, including setting up a North American Climate Compact.
In the presidential candidate’s 'Vision for modernizing North American energy infrastructure', Clinton said she plans to negotiate with Canada and Mexico to secure a North American Climate Compact, claiming that the transition to a green economy must be done as part of a continent-wide strategy, given that the US trades as much energy with Canada and Mexico as it does with the rest of the world combined.
The Compact would involve coordinated carbon reduction and clean energy targets. It would also build on the existing Clean Power Plan, which sets national limits on carbon pollution in Canada, Mexico, and the US.
Clinton said that the US’s existing energy infrastructure, including two million miles of oil and gas pipelines, is outdated and in need of repair, meanwhile new infrastructure is necessary to help cities, states, and rural communities transition to a clean energy future.
She said: “Policies and infrastructure have not kept pace with recent changes to the American energy system.”
This comes after significant increases in renewable energy deployment and a boom in domestic oil and gas production changing the energy mix in recent years.
As a result, Clinton pledged to establish a National Infrastructure Bank to leverage public and private capital to invest in infrastructure projects, including energy infrastructure.
Through Clinton’s Clean Energy Challenge, competitive grants will be awarded to states, cities and rural communities that invest in renewable energy, nuclear power, carbon capture and energy efficiency in buildings.
The federal government would also make it easier and more efficient to gain permits to encourage clean energy projects to the market. Public investment in research and development of renewable energy technology, including energy storage, would also be increased.
The new plans come after Clinton said in July that she wanted the US to install 500 million solar panels within four years of her taking office, while announcing details of her energy and climate plan.