energy efficient water heaters

Best Careers 2011: Heating, Air Conditioning, and Refrigeration Technician
As one of the 50 Best Jobs of 2011, this should have strong growth over the next decade.
Does anyone know how energy efficient rebates work?

My husband and I have built a house and that we just moved in too, yes we are very excited! Anyways, we have gone all green. Well tried to at least. We have a heat-pump, two ton fan coil, tankless water heater and icynene in the walls and attic for insulation in our house. Also all of our appliances our brand new and energy efficient. Now we were curious if we would get any tax rebates or any money back. I claim 2 (I make more money) and my husband claims 0. Or will we end up owing? Is there a website I could go to see if we would get any money back? Ok Thanks for all of the input!

Check with your electricity company (DWP). Normally their website has a list of rebates offered and how to receive them. I know the appliances will qualify for cash rebates but the tax rebates are minimal. Take a look at:

http://www.energy.gov/taxbreaks.htm

If you claim 2 and your husband claims 0 and you own your home you will definitely get money back. A good conservative estimate is about 30% of your income for federal taxes. Take a look at your next pay stub it will tell you how much in taxes you’ve already paid. If that amount is greater than 25-30% of your annual salary it’s a safe bet to change what you claim so less is deducted for the rest of the year. If your income hasn’t changed from 2007 then your best bet is to review your 2007 tax forms and I wouldn’t rely too much on the energy rebates since they are minimal.

Paloma Tankless Water Heaters

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