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Water Heaters

Looking for ways to make your apartments more appealing to current and prospective tenants? Installing energy efficient water heaters will make your rental units more competitive in the marketplace by helping your tenants save money.

Electric water heater Gas water heater
Energy Factor (EF) 0.93 or greater: $35 EF 0.62 or greater: $35
High-efficiency: $75
Minimum EF 0.94 or greater and minimum 20-year tank warranty
EF 0.67 or greater and Energy Star approved: $100
  Commercial unit: $2.50 per kBTUh
Minimum 91 percent AFUE or thermal efficiency
  Tankless unit: $200
Replace standard water heater with a tankless gas unit; minimum EF 0.80 or greater

Commercial tankless unit: $2.00 per kBTUh
Minimum EF 0.738 and electronic ignition only

Your property must be an Oregon rental property or condominium building with five or more units (properties with fewer than five units, please visit the Small Multifamily pages). The property’s energy must be primarily delivered by Portland General Electric, Pacific Power, NW Natural or Cascade Natural Gas to qualify for Energy Trust cash incentives. Energy-saving improvements must meet program requirements.

  1. Find a Trade Ally contractor (if applicable)
  2. Install your new qualified equipment
  3. Submit paperwork:
  • Form 320P (DOC) - Incentive Application for Standard Equipment
  • Proof of payment (invoice or receipt marked paid) and contractor's invoice (if applicable)
  • Utility bill(s)
  • IRS form W-9 

*Note: A post-installation inspection may apply for all equipment not installed by licensed contractors. A post-installation inspection may also be performed if your incentive amount is over $5,000.

To learn more call 1.877.510.2130 or email.

Form 320P Standard Equipment Incentive Application

PI320M Existing Multifamily Program Incentives

A W-9 or Substitute W-9 form is required for investment properties where the owner does not pay heating and electricity bills.