Installing a Rinnai tankless water heater just became a better deal for your pocketbook. Federal legislation enacted on January 2 retroactively reinstates the tax credits that expired at the end of 2011 for highly efficient HVAC and water heating equipment. The retroactive provision means that you can get the tax credit for qualified qualified equipment that was installed any time after December 31, 2011 thru December 31, 2013. Get all the tax credit details and more useful information.
Your equipment probably qualifies. All current Rinnai tankless water heaters with an energy factor of at least 0.82 and purchased within the allowed date range qualify for the $300 tax credit. So if you bought a new Rinnai tankless water heater last year or if you buy one this year, you probably will get the credit.
To claim your Federal Tax Credit: Just download and save the Manufacturer’s Certification Statement along with a copy of your proof of purchase. Then, when filing your taxes, use IRS Form 5695. Of course, consult a tax professional for further details.
The tax credit is not the only way to be nice to your pocketbook. Check out other rebates on energy-saving products and make it a great year for lower energy bills.