In addition to saving money on your monthly utilities bill, you cangeta $1,500 tax credit simply by installing a tankless water heater!
Under The American Recovery & Reinvestment Act of 2009, home owners are now eligible to receive a tax creditup to 30% (maximum of $1,500) of the total cost and installation of a tankless water heater. Heaters must be placed into service in existing homes by December 31, 2010.
Tax credits are also available at 30% of the cost, with no upper limit through 2016 (for existing homes & new construction) for solar water heating.
How to get your tax credit:
- Choose a qualifying tankless water heater that suits your needs.
- Manufacturer's Certification Statement is required.
- Save your receipts and Manufacturer's Certification Statement for tax purposes.
- Use IRS Form 5695.
- Improvements must be "placed into service" (this generally refers to the installation, not the purchase) within the specified dates.
Learn about more savings by visiting the DSIRE database of state incentives, or contact your state energy office or local utility service providers for more information about tax credits and rebates in your area.
GO GREEN! $AVE GREEN! GO TANKLESS!
For more information on the federal tax credits visit ENERGY STAR.
Post a Response