diff --git a/atomicapp/nulecule/base.py b/atomicapp/nulecule/base.py
index a008abd8..01caca61 100644
--- a/atomicapp/nulecule/base.py
+++ b/atomicapp/nulecule/base.py
@@ -177,9 +177,14 @@ def load_config(self, config=None, ask=False, skip_asking=False):
             # FIXME: Find a better way to expose config data to components.
             #        A component should not get access to all the variables,
             #        but only to variables it needs.
-            component.load_config(config=copy.deepcopy(self.config),
-                                  ask=ask, skip_asking=skip_asking)
-            self.merge_config(self.config, component.config)
+            if isinstance(component.params, dict):
+                component.load_config(config=copy.deepcopy(self.config),
+                                      ask=False, skip_asking=True)
+            else:
+                # FIXME: support old style component params list
+                component.load_config(config=copy.deepcopy(self.config),
+                                      ask=ask, skip_asking=skip_asking)
+                self.merge_config(self.config, component.config)
 
     def load_components(self, nodeps=False, dryrun=False):
         """
@@ -200,8 +205,8 @@ def load_components(self, nodeps=False, dryrun=False):
             node_name = node[NAME_KEY]
             source = Utils.getSourceImage(node)
             component = NuleculeComponent(
-                node_name, self.basepath, source,
-                node.get(PARAMS_KEY), node.get(ARTIFACTS_KEY))
+                self._get_component_namespace(node_name), self.basepath,
+                source, node.get(PARAMS_KEY), node.get(ARTIFACTS_KEY))
             component.load(nodeps, dryrun)
             components.append(component)
         self.components = components
@@ -223,6 +228,12 @@ def render(self, provider_key=None, dryrun=False):
         for component in self.components:
             component.render(provider_key=provider_key, dryrun=dryrun)
 
+    def _get_component_namespace(self, component_name):
+        current_namespace = '' if self.namespace == GLOBAL_CONF else self.namespace
+        return (
+            '%s:%s' % (current_namespace, component_name)
+            if current_namespace else component_name)
+
 
 class NuleculeComponent(NuleculeBase):
     """
@@ -280,12 +291,26 @@ def load_config(self, config=None, ask=False, skip_asking=False):
         """
         Load config for the Nulecule component.
         """
-        super(NuleculeComponent, self).load_config(
-            config, ask=ask, skip_asking=skip_asking)
-        if isinstance(self._app, Nulecule):
-            self._app.load_config(config=copy.deepcopy(self.config),
-                                  ask=ask, skip_asking=skip_asking)
-            self.merge_config(self.config, self._app.config)
+        if isinstance(self.params, dict):
+            _config = {GLOBAL_CONF: {}} if self.source else config
+            for key, value in self.params.items():
+                if value.startswith('$') and value[1:] in config.get(
+                        GLOBAL_CONF, {}):
+                    _config[GLOBAL_CONF][key] = config[GLOBAL_CONF][value[1:]]
+                else:
+                    _config[GLOBAL_CONF][key] = value
+            if isinstance(self._app, Nulecule):
+                self._app.load_config(config=copy.deepcopy(_config),
+                                      ask=ask, skip_asking=skip_asking)
+            self.config = config
+        else:
+            # FIXME: Support old style component params list
+            super(NuleculeComponent, self).load_config(
+                config, ask=ask, skip_asking=skip_asking)
+            if isinstance(self._app, Nulecule):
+                self._app.load_config(config=copy.deepcopy(self.config),
+                                      ask=ask, skip_asking=skip_asking)
+                self.merge_config(self.config, self._app.config)
 
     def load_external_application(self, dryrun=False, update=False):
         """
diff --git a/atomicapp/nulecule/lib.py b/atomicapp/nulecule/lib.py
index 141a12d2..b4ef565e 100644
--- a/atomicapp/nulecule/lib.py
+++ b/atomicapp/nulecule/lib.py
@@ -39,8 +39,10 @@ def load_config(self, config, ask=False, skip_asking=False):
         Returns:
             None
         """
+        parent_namespace = self._get_parent_namespace()
         for param in self.params:
             value = config.get(self.namespace, {}).get(param[NAME_KEY]) or \
+                config.get(parent_namespace, {}).get(param[NAME_KEY]) or \
                 config.get(GLOBAL_CONF, {}).get(param[NAME_KEY])
             if value is None and (ask or (
                     not skip_asking and param.get(DEFAULTNAME_KEY) is None)):
@@ -109,3 +111,7 @@ def install(self):
 
     def uninstall(self):
         raise NotImplementedError
+
+    def _get_parent_namespace(self):
+        tokens = self.namespace.split(':')
+        return ':'.join(tokens[:-1]) if len(tokens) > 1 else GLOBAL_CONF