Teco Conservation Rebates

When you add value to your home with natural gas appliances, you can save on your overall energy costs. And, through the Peoples Gas energy conservation program, you may also be eligible for cash-back allowances, designed to help you start saving right away.

To visit the TECO residential energy conservation website click here.

If you purchase a Rinnai tankless water heater from us, you will need to complete a Teco Energy Conservation form to obtain your rebate.

For a copy of this form click here.

Tankless Water Heater Federal Tax Credits

Energy Efficient Water Heaters can save you $300 on your taxes in addition to year-round savings on your energy bill. 2009 signifies the return of the $300 federal tax credit for non-solar tankless water heaters under the Energy Policy Act of 2005, which expired at the end of 2007. This successful program was extended under the "Emergency Economic Stabilization Act of 2008". The act re-establishes tax credits for purchasing and installing energy efficient home improvements, such as a Tankless Water Heater.

For more information on the bill, check out the U.S. Department of Energy website.

What is a tax credit?

A Tankless Water Heater Tax Credit is not received when you buy the product, like an instant rebate. A Tax Credit on Water Heaters is claimed on your federal income tax form at the end of the year. The credit then increases the tax refund you receive or decreases the amount paid in.

Tax credits vs. tax deductions.

In general, a tax credit is more valuable than a similar tax deduction. A tax credit reduces the tax you pay, dollar-for-dollar. Tax deductions, such as those for home mortgages and charitable giving, for example, lower your taxable income. If you are in the 30 percent tax bracket, your income tax is reduced by 30 percent of the value of a tax deduction. But a tax credit reduces your federal income tax by 100 percent of the amount of the credit.

For more information on Federal Tax Credits for Energy Efficiency, click here.

If you purchase a Rinnai tankless water heater from us, you or your tax preparer may need a manufacturer compliance statement for filing purposes.

For the Rinnai Compliance Letter click here.