The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 signed by President Obama on December 17, 2010, extended tax credits for qualifying energy-efficient, residential water heaters placed in service between January 1, 2011, and December 31, 2011.  Water heaters must have an energy factor >=0.82 or a thermal efficiency >=90%. 

Homeowners who purchase and install a qualifying Rinnai tankless water heater by Dec. 31, 2011 will be eligible for a tax credit up to a maximum of $300.

Click here for more information:  http://www.rinnai.us/tankless-tax-credit/