Q95M-200 Hot Water Boiler by Dunkirk

The current tax stimulus plan call for 30% tax credit, up to $1,500, for consumer’s who install energy efficient tank or tankless water heaters, furnaces and boilers in 2009 or 2010. If you qualify, you get a credit against the tax you owe, not just a deduction from income.

In typical fashion for anything tax related, you have to dig into the details to be sure you get the tax credit. Most of the products Lakewood Plumbing carries will qualify. We’ll let you know your options, but don’t be afraid to ask questions.

Here are some popular products we’ve been installing that qualify: Dunkirk Q95 modulating water boilers, American Standard 95% 2-stage variable speed furnaces and Rinnai tankless water heaters.

Additionally, Lakewood Plumbing has been qualified by XCEL Energy to participate in its rebate program. Our customers get another $100 to $200 on qualified equipment we install in their home.

You can check out all the tax credit details at the Energy Star website. Here are some highlights from that site:

• The product must be placed in service from January 1, 2009 through December 31, 2010.
• Must be for taxpayer’s existing principal residence (some geothermal and solar products placed in second homes qualify);
• $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 (for most home improvements). However, married people filing separately can both claim the $1,500 tax credit, as long as both claim separate expenses.

There’s lots more so check the website, ask questions or give us a call.

Seems like there’s never been a better time to replace old or inefficient water heaters and HVAC (Heating, Ventilation and Air Conditioning) equipment. Besides the Federal tax and XCEL credits, it’s good for the environment and will lower your energy bills.