To amend the Internal Revenue Code of 1986 to provide incentives for generating electricity using solar, wind, or geothermal energy and to encourage energy and water conservation.

Renewable Energy and Energy Efficiency Tax Act of 1991 - Amends the Internal Revenue Code to allow an investment tax credit for renewable electricity which is generated and sold by a qualified taxpayer within the United States using solar, wind, or geothermal energy and which is not used by the taxpayer or a related person. Allows the use of such credit for a ten-year period. Excludes from...