Renewable Energy Trade Equity and Promotion Act of 1987

Renewable Energy Trade Equity and Promotion Act of 1987 - Requires the United States Trade Representative to submit to the Congress a report on: (1) the extent to which countries impose protective tariffs and other requirements on renewable energy products or services; (2) a description by country of such tariffs and requirements; and (3) the need for the imposition of reciprocal tariffs by the United States if such tariffs are not removed.

Amends the Foreign Assistance Act of 1961 to include under the special projects and programs of the Overseas Private Investment Corporation the initiation of incentives, grants, and studies for renewable energy and other small business activities. Prohibits the use of administrative funds for such activities.

Amends the Export-Import Bank Act of 1945 and the Small Business Act to provide that in order to encourage the development of markets for U.S. renewable energy and related services industries, the Export-Import Bank and the Administrator of the Small Business Administration shall attempt to provide, in each fiscal year, loans, including loans to small businesses, for the promotion of renewable energy technology for export in an aggregate amount of at least five percent of the aggregate amount of loans provided in the previous fiscal year for all forms of energy technology.

Amends the Foreign Assistance Act of 1961 to include feasibility studies for renewable energy projects as an authorized purpose with respect to the provision by the President of financial assistance for the development of indigenous energy resources of developing countries. Requires the agency responsible for administering such assistance to develop an information exchange with the renewable energy industry in the United States in order to facilitate the use of renewable energy equipment in developing countries.

Amends the Energy Policy and Conservation Act to include potential end users, including other industry sectors in foreign countries, such as health care, rural development, communications and refrigeration, as eligible groups for receiving technical information about the domestic renewable energy industry and related service industries with respect to the establishment of programs by the Secretary of Commerce providing for the enhancement of commerce in renewable energy technologies. Includes within such programs the provision of information concerning export financing opportunities to such domestic industries.

Requires an interagency working group to establish a program to inform other countries of the benefits of policies that would allow small facilities which produce renewable energy to compete with producers of energy from nonrenewable sources. Authorizes appropriations to such group for FY 1989.

Requires the Secretary of the Treasury to instruct the Executive Directors of the International Monetary Fund and the Inter-American Development Bank to urge such institutions to: (1) provide financing for renewable energy purposes; (2) submit to recipient countries plans for renewable energy development; and (3) appoint an officer to facilitate the use of renewable energy technologies in such countries.

Amends the Foreign Assistance Act of 1961 to include renewable energy equipment as a "defense article" for purposes of military assistance programs.