To amend the Internal Revenue Code of 1986 to provide tax incentives for producing electricity from wasted heat.

Heat is Power Act - Amends the Internal Revenue Code to allow through 2017: (1) an energy tax credit for investment in wasted heat to electricity property, and (2) a tax credit for the production of electricity from renewable resources for wasted heat. Defines "wasted heat to electricity property" as property comprising a system which generates electricity through the recovery of a qualified...