Federal Tax Credits up to $1500

The American Recovery and Reinvestment Act of 2009 signed on February 17, 2009, by President Obama has made significant changes to homeowner tax credits for specified energy-efficient home improvements including qualifying, residential water heaters. Some of the more significant changes include the extension of the tax credit through 2010 and the increase in the total available tax credit from 10% to 30%. 

Homeowners who purchase and install a qualifying Rinnai tankless water heater between Jan. 1, 2009 and Dec. 31, 2010 will now be eligible for a tax credit equal to 30% of the full purchase and installation price up to a maximum of $1500.