Getting Tax Credits For Saving Energy

Getting Tax Credits For Saving Energy



Getting Tax Credits For Saving Energy
Homeowners looking to​ cut their tax bills may want to​ rethink their water heaters .​
a​ recently signed law allows people to​ take as​ much as​ a​ $300 tax credit if​ they install a​ tankless water heater in​ their house .​
The new tax credit is​ meant to​ encourage U.S .​
residents to​ better manage their energy consumption through the​ use of​ more efficient technology .​
Switching to​ such technology carries the​ added benefit of​ reducing utility bills overall even after the​ tax credit has expired.
In the​ case of​ water heaters,​ that means using models that offer a​ continuous supply of​ hot water while reducing energy use .​
For instance,​ Bradford White EverHot tankless water heaters use efficient technology to​ provide hot water instantly .​
The water heaters use a​ series of​ modulating gas burners that only operate when there's a​ demand for hot water .​
The Energy Factor (EF) of​ the​ heaters ranges from 0.82 to​ 0.87-comfortably above the​ new energy bill's minimum tax credit-qualifying requirement of​ 0.80.
Tankless water-heating technology may not be the​ best choice in​ all water-heating applications,​ said Bruce Carnevale,​ vice president of​ sales at​ Bradford White Corporation .​
However,​ recent improvements in​ tankless water heating designs have made them an​ important option to​ the​ energy-conscious consumer .​
One of​ the​ barriers to​ consumer acceptance of​ tankless water heaters has been their high initial cost,​ relative to​ traditional tank-type water heaters .​
But the​ $300 tax credit will help to​ reduce the​ cost differential.
Additional tax incentives exist for homebuilders who utilize the​ new technologies and also for commercial applications,​ whether the​ building is​ new or​ under renovation .​
The tax credit will run through Dec .​
31,​ 2018.




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