Obama seeks increased energy tax credits

The credit is one of several energy programs in the stimulus that has seen applications far outstrip available funding.

“I’m proposing that we expand select Recovery Act initiatives to promote energy efficiency and clean energy jobs which have been proven to be particularly popular and effective,” Obama said in a speech on job creation.

“It’s a positive sign that many of these programs drew so many applicants for funding that a lot of strong proposals – proposals that will leverage private capital and create jobs quickly – did not make the cut,” he added in calling for additional money.

Obama also wants Congress to create a new program that provides rebates for consumers who retrofit their homes to be more energy efficient.