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Obama Expands Push for Homeowner Renewable Energy Use

Aug 24 (Reuters) – 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 Department of Interior on Monday approved the Blyth Mesa Solar project in California and its transmission line, expected to bring enough solar energy to power 145,000 homes.

The moves are part of Obama’s “broader vision” for ameliorating the effects of climate change, which he will emphasize throughout the next week in trips to New Orleans and the Arctic, Brian Deese, senior adviser to Obama on climate, said on a call with reporters.

They come 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 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 do so with no cost upfront and pay back the cost of installation over time through property taxes.

Read full story at Newsweek