Get up to $1500 in Tax Credits
With the passage of the American Recovery and Reinvestment Act of 2009, homeowners now are eligible for substantial tax credits on energy-saving
home improvement projects, including the installation of select tankless water heater models.
Now until December 2010, homeowners are eligible for a tax credit equal to 30% of the purchase and installation price of a new tankless
water heater, up to a maximum of $1500.
Qualifications:
- The tax credit is available only for existing homes, NOT new construction.
- Tankless water heaters with an energy factor (EF) rating of 0.82+ or a thermal efficiency of at least 90% qualify for the credit
- The qualifying tankless water heater must be installed and placed in service between January 1, 2009 and December 31, 2010
- The qualifying tankless water heater must be installed in/on the taxpayer’s principal residence in the US
- The maximum amount that you may claim on your 2009 or 2010 tax return is $1500 over the lifetime of the tax credit. This includes the purchase and installation price.
- Tankless water heaters installed in 2008 are not eligible for the tax credit.
For complete details on this and other qualifying home improvement projects, please visit the US government's
Energy Star Website.
Why Go Tankless?
Tankless water heaters offer an energy efficient alternative to traditional gas or electric water heaters. Just a few of the benefits of
tankless water heaters include:
- 30 percent greater energy efficiency compared to traditional natural gas water heaters
- Up to 50 percent more efficient than electric water heaters
- Automatic shut-off, which equals energy and cost savings—often thousands of dollars off your annual energy bills
- An endless supply of hot water exactly when you need it
- Consistent water temperature level when delivering water to multiple outlets
- Compact design. Whereas typical water heaters feature a large tank that can take up as much as 16 square feet of floor space, the wall-mounted design of tankless heaters take up no floor space at all.
- Indoor or outdoor installation
- Average lifetime of 20 years, compared to traditional heaters that typically last 10 years.
Contact Progressive Plumbing & Drains today to find out more about our selection of Rinnai and Noritz brand tankless water heaters.
Schedule your appointment with Progressive Plumbing & Drains online.
