White House Aims to Boost Homeowner Renewable Energy Use

The White House on Monday expanded its push for greater renewable energy adoption, announcing fresh financial incentives for solar panels, smart grid technology and other alternative energies for homeowners and builders.

President Barack Obama will travel to Las Vegas, Nevada later on Monday to unveil the new steps, which include an additional $1 billion in loan guarantees for new research projects and near-term savings for homeowners using renewable energy.

The move comes after Obama's announcement earlier this month to limit carbon emissions from U.S. power plants by 32 percent from 2005 levels by 2030.

That plan mandated a shift to renewable energy from coal-fired electricity in order to fight climate change, which Obama has called the greatest threat facing the world. Critics have said moving away from carbon-producing energies will drive up costs.

Steps announced on Monday aim to build on that plan with regulations aimed at boosting financial incentives to adopt alternative energies, the White House said in a statement.

Under the new rules, homeowners who adopt renewable energy will be able to save money immediately and pay back the cost overtime through property taxes as opposed to seeing the savings of energy efficiency long after making paying upfront for the change.

The Federal Housing Administration will also allow low-income homeowners to save money by using renewable energy and making their existing energy use more efficient, it added. The administration has set a goal of installing 300 megawatts of solar and other renewable energy in affordable housing by 2020.

Monday's regulations also call for the Department of Energy to provide clear guidelines for renewable energy developers to distribute what they produce and make an additional $1 billion out of an existing $10 billion in loan guarantees available for such projects.

Solar energy has recently gained support among some Republicans who see it as a way to provide independence from power companies even as conservatives grapple with the party's stance on climate change.

Congressional Republicans are likely to balk at the White House's latest effort to promote renewable energy, although the regulations do not require lawmakers' approval.

Earlier this month Senate Majority Leader Mitch McConnell blasted the administration's earlier plan to cut carbon emissions, saying it would shutter power plants and drive up electricity costs.

(Reporting by Julia Edwards)