Renewable Fuel Equity Act

Renewable Fuel Equity Act - Amends the Internal Revenue Code to expand the renewable resources credit to include geothermal and solar energy, incremental hydropower and biomass (other than closed-loop biomass).

Sets forth qualifying dates of service for facilities using such means to produce electricity.

Expands the investment tax credit to include equipment used to produce electricity from certain renewable resources.

Increases, from 10 to 20 percent, the "energy percentage" used to determine the energy credit in the case of energy property having a total installed electrical generating capacity of less than one megawatt that is placed in service before January 1, 2007.