In April 2010 I had a Tankless Hot Water Heater by Rinnai installed in my RI home - a Green Alternative with Savings! Now to have this equipment be eligible it must meet some designated criteria such as be high efficiency equipment and in my case it was a minimum of .82 EF (energy factor) or greater with electronic ignition high-efficiency on-demand tankless water heater that I chose. Also, you need to do some legwork on the federal tax credit to ensure you buy the correct green alternative unit and maintain the needed documentation to get your tax credit when you file your 2010 tax return. It's worth the effort, let me tell you...
I talked about it in my blog that month and how excited I was and the savings in rebates and tax credits that would come back to me. Well I am pleased to share with all that are contemplating this green alternative that the savings are there. Let's look at what resulted on this $2000 investment:
1) Electric company rebate received for $300
2) State rebate for installing a high efficiency unit for $300
Now I've received $600 back to date. The remaining and additional $600 (in my case 30% of $2000) will be a tax credit when I file my 2010 federal tax return. You actually can get 30% back up to a $1500 tax credit if you need a larger on demand tankles water heater system.
Now I did forget to touch on, in my previous blog, about the monthly savings I would get back for my household by the installation of this green alternative equipment. Right now I see about a 15 % savings in my electric bill a month so I'm definitely on track to pay back this direct vent on demand tankless hot water heater within the 2 year period.
What is so nice about this system is it keeps & maintains the water at 120 degrees when you need it. You do need to wait 30 seconds or so but I like it for the consistency of water temperature. Plus you don't need to worry about a hot water tank letting go and flooding your basement when you are not around. A big bonus right there!
I am hoping it goes the distance over many years as predicted (20) but that remains to be seen. Right now I'm relishing in my savings, another step in green alternate savings and enjoying my hot showers!
Proof is in the pudding with the high efficiency on demand Tankless Hot Water Heater by Rinnai- Green Alternative with Savings in my home! If you want to know more about my experience e-mail me and remember I am the RI Realtor with the sparkly red shoes working for your best interests in RI real estate.
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ... I sell dreams! Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.
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cell: 401.529.7849 Ginny Lacey Gorman, Realtor