A bill to amend the Internal Revenue Code of 1954 to permit individuals to deduct qualified solar energy equipment expenses.

Amends the Internal Revenue Code to allow individuals an income tax deduction for 50 percent of the expenses incurred for the installation of qualified solar energy equipment in any residence. Limits the amount deducted for with respect to any residence to: $1,000 for hot water equipment, $4,500 for space heating, and $9,000 for space cooling equipment. Requires that the equipment taken into account provide one of these uses, have a useful life of at least five years, meet the criteria established by the Secretary of Housing and Urban Development under the Solar Heating and Cooling Demonstration Act, and be originally used by the taxpayer. Apportions the allowable credit among residential joint owners and tenant-stockholders.