$1500.00 Federal Tax Credit

Yes, there is a DIRECT tax credit from the United States Government to buyers who purchase a tankless water heater.

You can get rebates from several utilities in various states as well, it depends on your own location, check back here for details in a future article.

The tax credits is good for up to 30% of the cost of the tankless water heater. You can receive up to $1500, in 2009 & 2010 - for existing homes only.

How to get your tax credit:
• Buy a qualifying tankless water heater that suits your needs.
• A Manufacturer’s Certification Statement is required.
• Save your receiptsfor tax purposes.
• Use IRS Form 5695 - click here for a downloadable copy. (Right-Click on the link to download the file.)
• The equipment must be “placed into service” - this refers to the installation, within the specified dates.

Contact your state energy office or local utility service providers for more information about tax credits and rebates in your area.