Solar Energy Equipment Tax Credit Act

Solar Energy Equipment Tax Credit Act - Allows a tax credit, under the Internal Revenue Code, in an amount equal to 25 percent of the qualified solar heating and cooling equipment expenditures paid during the taxable year, but not to exceed $8,000, for the application of solar energy to the taxpayer's principal residence.

Prescribes rules for the utilization of such tax credit by taxpayers who jointly own a residence or who are tenant- stockholders in a cooperative housing corporation.

Requires the solar energy equipment to meet the interim or definite performance criteria prescribed by the Secretary of Housing and Urban Development under the Solar Heating and Cooling Demonstration Act.