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Committee on Energy and CommerceCommittee on Ways and MeansIntroducedSeptember 14th, 2010
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Renewable Energy Investment Incentive Act of 2010
To amend the Internal Revenue Code to extend the production tax credit and investment tax credit, to increase the investment tax credit with respect to equipment used to generate electricity by geothermal power, and to extend specified energy property grants under the American Recovery and Reinvestment Act.
Renewable Energy Investment Incentive Act of 2010 - Amends the Internal Revenue Code to extend until 2019: (1) the tax credit for the production of electricity from renewable resources; and (2) the energy tax credits for solar energy, fuel cell, and qualified small wind property and geothermal heat pump systems. Allows until 2019 a 30% energy tax credit for equipment used to generate electricity by geothermal power. Amends the American Recovery and Reinvestment Tax Act of 2009 to extend beyond 2010 the grant program for alternative and energy property in lieu of the tax credits for such property.