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Frequently Asked Questions

What is a tankless water heater tax credit?

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. 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.

How does the federal solar tax credit work?

How the solar tax credit works. As long as you own your solar energy system, you are eligible for the solar investment tax credit. Even if you don’t have enough tax liability to claim the entire credit in one year, you can “roll over” the remaining credits into future years for as long as the tax credit is in effect.

What is a federal rebate?

A rebate is a form of price reduction or refund on a product that has already been purchased. It is commonly used as a sales promotion by many companies in order to encourage customers to make a purchase.

What is residential energy credit limit?

Limits. A tax credit of up to $500 is available to individuals for nonbusiness energy property, such as residential exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners, and water heaters. The credit varies depending on the type of improvement. There is a lifetime credit of $500.


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