Setting ambitious targets, the plan
would reduce greenhouse gas emissions by 80 percent from 1990 levels
by 2050 to avoid the worst effects of global warming, and cut foreign
oil imports by two-thirds from 2030 projected levels, more than 10
million barrels per day.
Hillary would transform our economy
from carbon-based to clean and energy efficient, jumpstarting research
and development through a $50 billion Strategic Energy Fund and
doubling investment in basic energy research. She would also spur the
green building industry by funding the retrofitting and modernization
of 20 million low-income homes and take concrete steps to reduce
electricity consumption, including enacting strict appliance
efficiency standards and phasing out incandescent light bulbs.
Recognizing that transportation
accounts for 70 percent of U.S. oil consumption, Hillary would
increase fuel efficiency standards to 55 miles per gallon by 2030, but
would help automakers retool their production facilities through $20
billion in "Green Vehicle Bonds."
To take the steps necessary to
transition to a clean and renewable energy future, Hillary will urge
all of the nation's stakeholders to contribute to the effort.
Automakers will be asked to make more efficient vehicles; oil and
energy companies to invest in cleaner, renewable technologies;
utilities to ramp up use of renewables and modernize the grid; coal
companies to implement clean coal technology; government to establish
a cap and trade carbon emissions system and renew its leadership in
energy efficient buildings and services; individuals to conserve
energy and utilize efficient light bulbs and appliances in their
homes; and industry to build energy efficient homes and buildings.
Hillary's plan to promote energy
independence, address global warming, and transform our economy
includes:
-
A new cap-and-trade program that
auctions 100 percent of permits alongside investments to move us on
the path towards energy independence;
-
An aggressive comprehensive energy
efficiency agenda to reduce electricity consumption 20 percent from
projected levels by 2020 by changing the way utilities do business,
catalyzing a green building industry, enacting strict appliance
efficiency standards, and phasing out incandescent light bulbs;
-
A $50 billion Strategic Energy Fund,
paid for in part by oil companies, to fund investments in
alternative energy. The SEF will finance one-third of the $150
billon ten-year investment in a new energy future contained in this
plan;
-
Doubling of federal investment in
basic energy research, including funding for an ARPA-E, a new
research agency modeled on the successful Defense Advanced Research
Projects Agency
-
Aggressive action to transition our
economy toward renewable energy sources, with renewables generating
25 percent of electricity by 2025 and with 60 billion gallons of
home-grown biofuels available for cars and trucks by 2030;
-
10 "Smart Grid City" partnerships to
prove the advanced capabilities of smart grid and other advanced
demand-reduction technologies, as well as new investment in plug-in
hybrid vehicle technologies;
-
An increase in fuel efficiency
standards to 55 miles per gallon by 2030, and $20 billion of "Green
Vehicle Bonds" to help U.S. automakers retool their plants to meet
the standards;
-
A plan to catalyze a thriving green
building industry by investing in green collar jobs and helping to
modernize and retrofit 20 million low-income homes to make them more
energy efficient;
-
A new "Connie Mae" program to make it
easier for low and middle-income Americans to buy green homes and
invest in green home improvements;
-
A requirement that all publicly
traded companies report financial risks due to climate change in
annual reports filed with the Securities and Exchange Commission;
and
-
Creation of a "National Energy
Council" within the White House to ensure implementation of the plan
across the Executive Branch.
-
A requirement that all federal
buildings designed after January 20, 2009 will be zero emissions
buildings.
