Omnibus Renewables Act of 1980

Omnibus Renewables Act of 1980 - Title I: Solar and Geothermal Energy Programs - Amends the Solar Heating and Cooling Demonstration Act of 1974 to provide for a program to develop solar agricultural and industrial process heat for use in meeting needs of agricultural and industrial operations.

Directs the Secretary of Energy to establish a development and demonstration program on solar energy systems to provide agricultural and industrial process heat. Requires the Secretary to transmit to Congress a comprehensive management plan which shall include performance criteria for the solar heating components and systems to be used in such program. Requires the Secretary to submit to Congress concurrently with the President's annual budget following transmittal of the initial program management plan a detailed description of the plan as then in effect, including any significant changes in the program.

Directs the Secretary to enter into such contracts and make such awards based on competitive solicitation as are necessary for: (1) the development or procurement of solar agricultural and industrial process heat systems; (2) the installation and testing of such systems; and (3) the operation of such installations during the demonstration period. Allows title to such systems to be conveyed subject to any terms prescribed by the Secretary to the owners of the facilities involved. Directs the Secretary to: (1) monitor the operations of such systems; (2) collect, evaluate, and disseminate data on all such systems; and (3) carry out studies in furtherance of this Act.

Requires that priority be given in the solar agricultural and industrial process heat demonstration program to: (1) projects in which a substantial share of the purchasing, installation, and operating funds are provided by private entities and non-Federal governmental entities; and (2) projects which involve technologies which will be acceptable to the public soon.

Directs the Secretary to establish a program for the repair and retrofit of solar heating systems and combined solar heating and cooling systems in accordance with the applicable performance criteria established under this Act by the Secretary for residential dwellings and commercial buildings. Requires that priority under such program be given to projects which: (1) can be repaired at reasonable cost and are located in areas where a substantial portion of residential heat may be derived from solar energy or there is public skepticism about solar heating; and (2) are being monitored or where a substantial share of funds are provided by private or non-Federal entities.

Directs the Secretary to establish an office to encourage small business participation in the development and demonstration of solar energy.

Requires the Secretary to encourage small inventors to participate in the development and demonstration of solar energy by placing representatives of small inventors in the Energy Department's regional offices.

Amends the Internal Revenue Code of 1954 to allow a taxpayer to elect to take an amortization deduction for any qualified geothermal property based on a 60-month period. Permits a taxpayer who has elected to take such deduction at any time to discontinue the deduction for the rest of the amortization period. Deems the election of such deduction terminated if during the amortization period the qualified geothermal property ceases to meet the specified definition of qualified geothermal property.