1. Short title This Act may be cited as the Energy Parity Act . 2. Parity in reductions in royalty rates and capacity fees (a) Definitions Section 3101 of the Energy Act of 2020 ( 43 U.S.C. 3001 ) is amended— (1) in paragraph (1)(B), by inserting , or the production of oil or natural gas, after wind energy ; and (2) in paragraph (4)— (A) strike that and insert that— ; and (B) strike uses wind, solar, or geothermal energy to generate energy. and insert the following: (A) uses wind, solar, or geothermal energy to generate energy; or (B) produces oil or natural gas. . (b) Increasing economic certainty Section 3103 of the Energy Act of 2020 ( 43 U.S.C. 3003 ) is amended— (1) in subsection (a)— (A) by inserting royalty rates, after capacity fees, ; and (B) by striking wind and solar and inserting oil, natural gas, wind, and solar ; (2) in subsection (b)— (A) by striking and capacity fees, or both, and inserting , capacity fees, and royalty rates ; (B) by striking wind and solar and inserting oil, natural gas, wind, and solar ; and (C) in paragraph (2)— (i) by striking or capacity fee and inserting , capacity fee, or royalty rate ; and (ii) by striking wind and solar and inserting oil, natural gas, wind, and solar