2007 Tax Credit

See: www.energy.gov
See also: www.gamanet.org

Energy Efficient Bosch Water Heaters Can Save You $300 on Your 2006-2007 Taxes

Waitsfield, Vt. — Start the New Year off right by purchasing a highly energy-efficient Bosch tankless water heater. Thanks to the Energy Policy Act of 2005, passed by Congress and signed into law by President Bush, homeowners who have a Bosch gas water heater with an Energy Factor of 0.80 or greater installed in their home in 2006/2007 are eligible for a $300 tax credit on their 2006/2007 income taxes.

One of the primary goals of the Energy Bill, which took effect on January 1, 2006, is to reduce America’s energy consumption. To accomplish this goal, it includes incentives for U.S. consumers to use more energy-efficient products and technologies.

Residential water heating is typically the second largest use of energy in American homes, so the Energy Bill includes a special provision to encourage homeowners to use energy efficient tankless water heaters like those produced by Bosch. This is actually a win-win-win for homeowners, who can now receive a tax credit for purchasing a Bosch tankless water heater which can lead to a reduction of 30%-50% in monthly utility bills while helping to preserve the environment.

Only gas tankless water heaters with an Energy Factor (EF) of at least 0.80, as certified by the U.S. Department of Energy, qualify for the tax credit. The Bosch product line includes sixteen powerful, energy-efficient tankless water heaters with EF’s above the 0.80 minimum: Ask your plumber for Bosch tankless water heaters. Standard, old-fashioned storage tank heaters have lower Energy Factors because they heat water continuously, whether it is being used or not. “That’s like leaving your car idling in the driveway 24 hours a day,” noted Kyle Murray, Vice President of Marketing for Bosch Water Heating. Bosch tankless water heaters have EF’s as much as 20 points higher than even the best storage tank heaters.

Tax credits are far from the only benefit enjoyed by homeowners who use Bosch tankless water heaters, of course. These water heaters produce an endless flow of hot water, and only heat that water while it is actually being used. The new generation of Bosch tankless water heaters produces flow volumes of almost seven gallons per minute, which is enough for two major simultaneous household uses such as showers, laundry, dish washing, etc. And Bosch tankless water heaters are as environmentally friendly as they are efficient, producing up to 50% fewer greenhouse gas emissions than less efficient storage tank heaters.

Contractors who build energy-efficient new homes or commercial buildings, or who remodel older buildings, are also eligible for tax incentives under the provisions of the new Energy Bill. This tax credit will continue through Dec. 31, 2007. It is possible that the program will be renewed thereafter. A total cap of $500 in credits per individual is allowable under the current law, with additional credits and requirements involved.

Contact: Mat Katz
Mat.Katz@bbtna.com