Cogeneration and Waste Heat Utilization Act

[AI summary unavailable — showing source text] Cogeneration and Waste Heat Utilization Act - Title I: Waste Energy Recovery Policy Analysis - Directs the Federal Energy Administrator to study the feasibility of implementing waste heat energy recovery technology on a nationwide scale. Details subjects to be covered in periodic progress reports to the Congress and the President. Title II: Interim Incentives for Industrial Cogeneration - Amends the Internal Revenue Code of 1954 to allow a special tax credit for equipment which generates electrical energy in excess of the users needs in marketable quantities. Stipulates that electric power distributors who unreasonably refuse to purchase and transmit excess electrical energy (in accordance with standards prescribed by the Federal Power Commission) shall be denied investment tax credits. Authorizes the Federal Energy Administrator to make grants to State utility regulatory authorities on an interim basis to assist such authorities in encouraging recovery and use of waste heat energy.…