Solar Energy Incentive Tax Act of 1979

Solar Energy Incentive Tax Act of 1979 - Amends the Internal Revenue Code to allow an additional 40 percent investment tax credit for solar energy property. Extends the termination date for such credit to December 31, 1985.

Increases the residential energy credit for renewable energy source expenditures to 50 percent of such expenditures up to $10,000.

Qualifies solar energy property which performs more than one energy-related function for the residential energy credit.