LAS VEGAS (Reuters) - President Barack Obama on Monday expanded his push for greater renewable energy adoption, announcing fresh financial incentives for solar power development and use.

The steps include an additional $1 billion in loan guarantees for new research projects and near-term savings for homeowners using renewable energy.

Speaking at the National Clean Energy Summit in Las Vegas, Obama argued fossil fuel proponents who say renewable energy is too expensive are being proven wrong as power sources like solar and wind become cheaper.

"For decades we've been told that it doesn't make sense to switch to renewable energy. Today that's no longer true," Obama said, laying out the cost savings realized by companies and states using more renewable energy.

The moves are part of Obama's broader plan for ameliorating the effects of climate change, which he will illustrate throughout the next week in trips to New Orleans and Alaska.