Tankless Water Heater Oregon Tax Credit

The uef of your tankless water heater is an important consideration when you re in the process of purchasing a residential tankless water heater or hoping to apply for the tax credit.

Tankless water heater oregon tax credit.

2017 residential energy tax credit rates residential energy tax credit rates are based on the statutory credit rates in ors 316 116 and are calculated based on the amount of energy saved. 600 state tax credit for. 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. To qualify for the residential energy property costs tax credit your tankless water heater must have an energy factor overall efficiency of 0 82 or more.

The state of oregon is offering a tax credit for the installation of gas tankless water heaters. Unless stated otherwise tax credits listed below are up to 50 percent of the cost of the device or 1 500 whichever is less on any one application. Qualifying properties are solar electric property solar water heaters geothermal heat pumps small wind turbines and fuel cell property. 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.

Yes the residential energy efficient property credit allows for a credit equal to the applicable percent of the cost of qualified property. 245 state tax credit for ef of 85 or more. The state of oregon is offering a tax credit for heat pump water heaters. Energy star certified commercial water heaters include gas fired storage and gas fired instantaneous also referred to as tankless units that use around 15 percent less energy than conventional commercial units by employing more efficient heat exchangers.