Tankless Gas Water Heater Federal Tax Credit

Product category product type tax credit specification tax credit water heater gas oil propane energy factor 0 82 or a thermal efficiency of at least 90 up to 300 00.

Tankless gas water heater federal tax credit.

26 for systems placed in service after 12 31 19 and before 01 01 21. 30 for systems placed in service by 12 31 19. These types of hot water heaters have been around for a while and many models offer a less energy consuming option for keeping a home supplied with hot water. You can receive a tax credit for a percentage of the cost not including installation costs which varies depending on when the system is placed in service.

Tankless federal tax credit federal income tax credits and other incentives for energy efficiency under the bipartisan budget act of 2018 which was signed in february 2018 a number of tax credits for residential energy efficiency that had expired at the end of 2016 were renewed. The credit amount for gas oil propane water heaters including tankless units is 300. Internal revenue service irs is also providing consumers with a tax credit on high efficiency water heating equipment. That means if you installed a qualifying tankless water heater last year you could get the credit on the return you file in 2020 for 2019.

For a tankless unit to qualify it must have a uniform energy factor uef of at least 0 82 all rinnai condensing tankless water heaters and the v94xi non condensing tankless water heater qualify. Tankless gas water heaters qualified navien condensing tankless gas water heater models. Receive a 300 federal tax credit when you buy an energy efficient energy star certified electric heat pump or gas storage water heater. A tankless water heater tax credit is a government s tax credit to citizens who take advantage of switching to a more energy efficient tankless hot water heater.

The rheem water heating division of rheem manufacturing company certifies that the water heating models listed here meet the criteria for the credit of 300 for energy star certified gas water heaters with. Homeowners who have made energy efficient improvements including an upgrade to a rinnai tankless water heater may qualify for a 300 us federal tax credit known as the nonbusiness energy property credit.