Solar Energy and Resource Conservation Act

[AI summary unavailable — showing source text] Solar Energy and Resource Conservation Act - Amends the Internal Revenue Code to allow taxpayers limited, nonrefundable tax credits for installing primary solar energy equipment in their principal residences and places of business during the ten year period ending before 1987. Allows accelerated amortization of business solar installation. Directs the Secretary of the Treasury, and the Secretary of Housing and Urban Development in consultation with the Director of the National Bureau of Standards and the Administrators of the Federal Energy and the Energy Research and Development Administrations, to develop performance standards for qualified solar equipment which shall be promulgated by the Secretary of the Treasury for these credits. Requires the Secretary of the Treasury and the Administrator of the Federal Energy Administration to report annually to Congress on the use of solar energy technology in the United States, the energy savings realized thereby, and the utilization of the tax credits provided by this Act for solar energy. Allows individuals a limited, nonrefundable tax credit for the installation of insulation during the four year period before 1980 in principal residen…