Natural Gas Tankless Water Heater Purchase Nets up to $1,500 Tax Credit from Uncle Sam

TALLAHASSEE, Fla.--(BUSINESS WIRE)--Purchasing an efficient natural gas tankless water heaters can do more than save homeowners money on energy bills; it can save homeowners money come tax time. Under the federal government’s new stimulus bill, homeowners are being offered a tax credit up to $1,500 - or up to 30 percent of purchase and installation of a natural gas tankless water heater.

“The American Recovery and Re-investment Act of 2009”

Signed by President Obama, February 17, 2009, “The American Recovery and Re-investment Act of 2009” highlights multiple revisions to the 2008 energy efficiency tax credits, including:

• The tax credit has been raised from 10 to 30 percent
• Tax credits set for a specific dollar amount have been converted to 30 percent of the cost
• Tax credits previously effective for 2009 have been extended to 2010
• The maximum credit has been raised from $500 to $1500 for the years 2009 and 2010

There is certain ENERGY STAR® and governmental criterion water heaters must meet to qualify for tax credits, such as the appliance must have an Energy Factor greater than or equal to .82 or a thermal efficiency of at least 90 percent to qualify.

By heating water on demand (rather than continuously reheating and storing water in a tank), natural gas tankless water heaters provide a seemingly endless supply of hot water. Although a natural gas tankless water heater may cost slightly more to purchase than some non-gas models, most Florida gas utilities offer cash rebates to offset the difference. Factor in monthly energy savings and natural gas tankless water heaters quickly make up for their initial cost.

Homeowners can learn more about natural gas at FNGA.com or GetGasFL.com.

The (FNGA) is non-profit organization that promotes and encourages the growth of the natural gas industry in the state of Florida. It also seeks to protect the interests of the industry, its members and consumers. Our members include distribution companies, transmission, gas supply marketers and affiliate members. With a membership of more than 100 companies, FNGA represents every segment of the natural gas industry.

For more information, please contact Jenna Bernardo, FNGA staff member, phone. [phone], [e-mail].