U.S. to spend $6.8B on renewable energy by 2030, Trump administration announces

The United States will spend $4.5 billion to provide more than $6 billion in clean energy incentives to households and businesses, including the construction of more than 700 new wind turbines, solar power plants and water storage systems, the U.N. Environment Program said on Thursday.

Trump administration officials had not disclosed details of the new incentives, including how much the money would be spent or what incentives were expected to be in place for the first two years.

They said they were aiming to create an energy infrastructure that would enable the U,S.

economy to compete more effectively globally.

U.S.-based utility company AEG is the largest investor in the $1.6 trillion utility-scale solar power sector.