American Renewable Energy Act of 2009 - Amends the Public Utility Regulatory Policies Act of 1978 to require electric utilities that sell electricity to consumers to generate or purchase a specified percentage (increasing from 2% in 2010 to 25% in 2025) of their electricity from renewable resources (e.g., solar, wind, geothermal, or ocean energy, biomass, landfill gas, solid waste, or hydropower).
Instructs the Secretary of Energy to: (1) establish a renewable energy credit trading program to determine compliance of electric utilities with renewable energy standards established by this Act; (2) establish a state renewable energy account program for grants to state agencies to promote renewable energy production (including programs that promote technologies that reduce the use of electricity at customer sites, such as solar water heating); and (3) study and report to Congress on methods to increase transmission line capacity for wind energy development.
Authorizes appropriations for the Hollings Manufacturing Partnership Program to reduce barriers to supply chain manufacturing of renewable energy equipment.
Amends the Wind Energy Systems Act of 1980 to authorize appropriations for FY2010-FY2014 for wind energy research and training programs.
Amends the Internal Revenue Code to exempt taxpayers who invest in wind facilities used to produce electricity from limitations on passive activity losses. Terminates such exemption for taxable years beginning after 2010.