President Barack Obama and his administration said today household and commercial lamps and lighting will face new rules to save energy and reduce carbon dioxide emissions.

The new rule for light bulbs takes effect in 2012. It focuses on General Service Fluorescent Lamps (GSFL), commonly found in residential and commercial buildings, and Incandescent Reflector Lamps (IRL), commonly used in recessed and track lighting.

The federal government also unveiled an investment of $346 million from the stimulus package for energy efficiency projects in commercial buildings and existing homes.

The administration is targeting energy efficiency because it is a fast, easy and cheap way to save energy and carbon emissions, the Department of Energy noted.

In the United States, seven percent of all energy consumed in the nation is for lighting, while residential and commercial buildings consume 40 percent of the energy and represent also 40 percent of the country's carbon emissions , according to the DOE.

When it comes to saving money and growing our economy, energy efficiency isn't just low hanging fruit; it's fruit laying on the ground, said Secretary Chu in a statement Monday.

The funds will be used to develop equipment, lighting, daylighting, and windows; advance passive solar, photovoltaic, fuel cells, advanced sensors and controls and combined heating, cooling, and power in buildings, the DOE said in the statement.