Maximize Your Investment With ARS/Rescue Rooter
Buying a new water heater is great, but it’s even better with a tax credit. The 2022 Inflation Reduction Act (“IRA”) provides an increase in the tax credits that homeowners can get when they purchase and install a qualifying water heater. Here are a few things you should know before you start planning.
Tax Credits on Water Heaters
Starting in 2023, the Energy Efficient Home Improvement Credit provides a tax credit of up to 30% on the purchase of a qualifying water heater of up to $2,000.
ARS is not a licensed tax professional and cannot provide tax advice. We recommend consulting with your tax advisor on eligibility for any tax credits.
Qualifying Water Heaters
When you book an appointment for installation, ask about the types of water heaters that will work for your home and mention that you are interested in qualifying equipment for the tax credit. The type and efficiency may affect your eligibility for the tax credit and amount of the credit.
Benefits of Water Heater Upgrades
Making the upgrade to a new water heater is a big decision. It’s an investment and you want to be sure that you’re making the right choice for the future. The good news is that water heater upgrades can make your life easier and more efficient. In addition to the tax credit for qualifying water heaters, below are added benefits you can get when you upgrade your water heater.
Lower Energy Bills
If you’re trying to lower your energy bills, upgrading your appliances is a great idea. The latest models tend to use less energy to achieve the same amount of output. This means that you could have a lower utility bill even if you don’t cut back on the number of baths and showers that your household takes.
Lower Energy Bills
A new water heater gives you equal or better output for the same energy usage because of its increased energy efficiency. As a rule, newer models tend to be more efficient, which means that they can produce more hot water while using less electricity or fuel. Higher efficiency means less waste, which you’re most likely to see on your utility bills.
As your water heater ages, you may notice that the output isn’t as good as it was when you first bought it. Unfortunately, it’s a common problem for many appliances as they reach the end of their lifespan. If you want the maximum output, a new unit is more likely to meet your needs than an old one.
If you have a hot water heater with a tank, you know what it means to run out and have to wait for the hot water recovery process. Older heaters take longer to produce heat, which can lead to wasted time. Newer water heaters have improved technology that decreases the amount of time you’re waiting for the hot water to return.
Meets Current Needs
When you buy your current hot water heater, you may have based the decision for size and output on a variety of factors that no longer apply. Sometimes your household’s hot water needs aren’t met by the existing equipment, so it is time to think about an upgrade. Plenty of hot water when you need it could be its own reward.
Fit in Smaller Spaces
These days, plenty of homeowners focus on maximizing the use of space, which should involve major appliances. Current models of hot water heaters tend to take up less space, particularly the ones that rely on a tankless water supply. A smaller unit gives you more options for installation, freeing up space for other uses.
Keeping an older water heater is only practical if you’re not spending all your money and time trying to hold it together. New units are much less likely to need repairs. Making the investment to replace your water heater can give you the peace of mind of knowing that your water heater will work when you need it.
When to Replace Your Water Heater
Your water heater doesn’t always tell you when it’s time to get a new one. If you’re thinking about taking advantage of the tax credits under the IRA, it’s worth considering whether you already need one. Here are a few signs to watch for.
Water Heater Is 10+ Years Old
Even the best-kept appliances won’t last forever. If your water heater is approaching a decade, it is nearing the end of its lifespan. You can buy yourself more time with regular maintenance and frequent repairs, but you’ll probably notice a drop in efficiency or output over time.
Not Enough Hot Water
There are plenty of reasons that your water heater might not give you sufficient hot water, and only some of them can be repaired. If the tank is too small or your unit can’t recover hot water fast enough for your needs, replacement is usually your best choice. That way, you can get exactly what you need.
High Repair Bills
When you think about repairs for your water heater, investment can be a major deciding factor. Putting hundreds of dollars into an older unit might not be as practical of an investment as buying new. If you’re facing repair bills that cost more than half the price of a new unit, you should seriously consider replacing it.
Frequent Water Heater Leaks
Occasional leaks or dripping water may be possible to repair, but frequent problems are another matter. Leaks in your water heater can cause long-term water damage in your home and interrupt the equipment’s function. Replacing a faulty unit can significantly decrease your risk of leaks and water damage.
It’s common for homeowners to make improvements to a property, and some of these improvements change the use of hot water for the household. If you’re finishing a basement, adding a bathroom, or expanding the size of your home, you should consider upgrading your water heater to meet the increased demand.
Call ARS/Rescue Rooter for a New Water Heater Today!
For the best experience with your new water heater, including taking advantage of the water heater tax credit, contact ARS/Rescue Rooter. Our team of highly trained, experienced technicians are known for their excellent service and are dedicated to providing top-notch service, ensuring your complete satisfaction. They undergo regular and ongoing training to stay up-to-date on the latest industry practices and technologies. Not only that, but our Google star rating speaks for itself, with customers rating our service as outstanding. So, whether you're looking to install a new water heater or want to learn more about your options, don't hesitate to call us!
We Specialize in Water Heaters
We offer expert service for water heaters, including:
· New heat pump water heaters
· Water heater maintenance
· Water heater repair
Book an appointment today to find out how many problems you can solve with a new water heater.