thanks for the response @ColeenD3 . Is this understanding correct based on your response?
1) Residential Energy Efficient Property Credit ( like Solar electric system) is separate from Nonbusiness Energy Property Credit (like tankless water heater). The credit from one does not accrue towards the other.
2) $150 is the max Nonbusiness Energy Property Credit I can get for installing Tankless water heater ( natural gas based hot water boiler) ?
3) Once I avail $150 for nonbusiness energy property credit , I can only avail $350 [$50 for any advanced main air circulating fan, $300 for any item of energy-efficient building property) in future tax years.
I did not understand what this means can you please clarify "The residential energy property credit is nonrefundable. A nonrefundable tax credit allows taxpayers to lower their tax liability to zero, but not below zero."
thanks again.
