Renewable Energy and Energy Efficiency Act of 2005 - Declares it shall be policy of the United States that its research, development, demonstration, and commercial applications programs be designed to enable 20 percent of domestic energy generated from stationary sources to be generated from nonhydropower renewable energy sources by the year 2020.
Prescribes research and development program goals to implement such policy in connection with enhanced: (1) renewable energy; (2) energy efficiency; and (3) aeronautical system energy.
Directs the Secretary of Energy to: (1) submit to Congress an assessment of renewable energy resources available for commercial application; and (2) implement a Next Generation Lighting Initiative for advanced solid-state lighting technologies based on white light emitting diodes.
Requires the Director of the Office of Science and Technology Policy to establish: (1) an interagency group to develop a National Building Performance Initiative; and (2) an advisory committee to analyze and provide recommendations on potential private sector roles and participation in the Initiative.
Directs the Secretary of Energy to: (1) commission an independent assessment of innovative financing techniques to facilitate construction of new renewable energy and energy efficiency facilities; (2) establish a demonstration program for innovative technologies for renewable energy sources in buildings owned or operated by a State or local government; (3) provide assistance to small businesses and startup companies for the commercial application of renewable energy and energy efficiency technologies developed by or with support from the Department of Energy; (4) establish an education and outreach program on renewable energy and energy efficiency technologies; and (5) establish a competitive matching grant pilot program for voluntary local government programs that seek to promote innovative energy efficiency technologies and processes to reduce the industrial use of water and the discharge of wastewater from commercial and industrial entities.