Right now, the federal government is offering homeowners a federal tax credit on the installation of new, high-efficiency gas, oil, propane and electric heat pump water heaters. Not all water heaters qualify for the credit, but if you’re considering updating a home in Boston, water heater replacement can save you money both up-front and over the life of the appliance.
To claim the credit, which amounts to 30% of your cost up to $1,500, you’ll need to install a water heater with an energy factor of at least .82 or a thermal efficiency of at least 90%. The tax credit will cover installation costs in addition to the cost of the water heater. This credit is significant because a hot water heater can account for between 15% and 25% of your total energy expenditures each year. Reducing energy consumption for hot water heating will produce a noticeable change in your monthly heating bills. This credit expires on December 31, 2010, so time is of the essence if you’re planning to upgrade your hot water heater.
Hot water heaters don’t have an indefinite life span. If your hot water heater is making noise (like crackling sounds), has aged beyond its original warranty, is not performing as expected, shows outward signs of rust, produces hot water with a foul odor, or releases white particles when you open the drain valve at the bottom of the tank, you may want to consider replacing your hot water heating system.
At Boston Standard Plumbing, we can perform hot water heater maintenance, and evaluate the condition of your hot water tank. We can also install a tankless hot water heat system that integrates with your existing boiler, or operates independently and provides unlimited, instant hot water for your home and appliances.
Contact Boston Standard Plumbing today at (617) 288-2911 for more information about this tax credit and how you may be able to take advantage of it.