To amend the Internal Revenue Code of 1986 to treat any business credit attributable to wind, solar, or biomass electricity production and investment in solar energy property as refundable to the extent the taxpayer makes new wind, solar, and other renewable energy investments.

Amends the Internal Revenue Code to allow an election to treat business-related tax credits for the production of electricity from wind, solar, or biomass facilities and for investment in solar energy property as refundable in taxable years beginning in 2010 or 2011. Provides that credit amounts shall not exceed the basis of renewable energy facilities placed in service in the subsequent taxable year.