If you’re looking for a way to increase your home’s efficiency, save money, and get a tax credit, you should consider installing a tankless water heater. From now until December 31 2010 for any tankless water heater you purchase that meets the requirements you will receive a tax credit of up to 30% of the unit’s cost with a limit of $1500.
Tankless water heaters come in a variety of brands and models to give you the necessary amount of hot water. Even if you choose a tankless water heater that handles more water than your current water heater, you’ll still be saving money by using less energy than your current heater.
Tax Credit Requirements
There are a few requirements to get the tax credit for installing a tankless water heater. The heater you install must have a thermal efficiency greater than ninety percent. The unit must be powered by propane or natural gas.
For the credit, your tankless water heater must be installed in your primary residence. You will not receive the rebate if you install it in a vacation home, a guest house, or rental property.
Once you purchase and install your new heater, you must keep all the receipts related to the purchase and installation. You’ll also need a Manufacturer Certification Statement for the tankless unit you install. You will need these receipts and certification for eligibility verification when you file your taxes.
Contact Excel Plumbing today to find out more about the tankless water heater that’s right for you. Remember you’ll be saving money in more than one way with a tankless water heater.
