By Bodie Vinyard
•
12 Feb, 2023
Details If you recently replaced your old water heater with a new energy efficient model, you may be eligible for a New Mexico Gas Company Rebate Up to $300 as well as Federal Tax Credit up to $300. The new equipment must be installed in an existing home and your primary residence. New construction and rentals do not apply. A tax professional can help guide you through the process to ensure you maximize your rebates and tax credits. Additionally, ask your plumber to provide the necessary documents, typically an AHRI Certificate, for the water heater you purchased or plan to purchase. Requirements *Electric Heat Pump Water Heaters require a Uniform Energy Factor (UEF) of >=2.2. *Gas, Propane, or Oil Water Heaters require Uniform Energy Factor (UEF) of >=0.82 or have a thermal efficiency of at least 90%. *New Mexico Gas Company offers rebates for some water heaters that have a Uniform Energy Factor (UEF) of >=0.64. How to Apply for Your Rebate You will need to file IRS Form 5695 with your tax return. We recommend consulting a tax professional for advice on tax preparation because the credit amounts you may receive are subject to IRS regulations. You may also visit energystar.gov and nmgcgetrebates.com/water-heating-rebates for details, eligibility, and information.