The Water Heater Comfort Plan lets your customers replace a water heater with $0 upfront and one fixed monthly payment. That payment covers the equipment, installation, parts and labor, and annual maintenance for the full 10-year term.
Overview
Palmetto owns the water heater and the homeowner leases it. You quote, sell and install through the Palmetto portal, the same way you do for HVAC. It sits alongside cash and loans as another way to pay, and it fits unplanned replacements well: the old tank fails, and the homeowner wants it fixed without a big bill.
What your customer gets
No upfront cost: one fixed monthly payment instead of paying for the equipment and install up front.
Parts coverage for 10 years: no matter what the manufacturer covers.
Service labor for the full term: repairs are handled by you, their local installer.
Annual maintenance: one onsite or remote visit a year. The customer can opt out.
A predictable payment: the payment is set when the contract is signed.
Terms and program structure
Item | Details |
Availability | Every state except Minnesota. The program is not currently available in Minnesota. |
Credit | Soft credit pull, no debt-to-income (DTI) check. See Water Heater: Credit Parameters & Sending Contracts. |
Lease term | 10 years |
Escalator | 0%, 0.99% or 1.99% per year |
Lease amount | $1,800 minimum, enforced |
Monthly payment | Set when the contract is signed, and rises each year only if an escalator is chosen. Includes a $15 autopay discount. Taxes aren't included and are charged if assessed. |
Systems per account | One water heater per account. Each Comfort Plan product needs its own account and contract, so a water heater can't share an HVAC contract. |
Included for the full term | Installation, full parts coverage, service and repair labor, and annual maintenance (onsite or remote, customer can opt out) |
FICO minimum: contact your channel account manager for the current minimum.
Maximum lease amount: contact your channel account manager for the current maximum.
Eligible equipment
Gas: tank or tankless
Electric: tank, tankless or heat pump
Conversions are covered: gas to electric, tank to tankless, and standard to heat pump
Complete replacements only, installed by licensed contractors following manufacturer requirements
Water heaters only. Boilers aren't eligible.
Equipment must be from a brand on the Water Heater: Approved Vendor List (AVL).
What can go in the price
Accessories aren't separate line items. Instead, the work and components a water heater install needs can be built into the base price:
Plumbing work around the tank: sediment trap, re-pipe, stand, drain pan, mixing valve, gas line, venting and permit fees
Listed components: expansion tank, condensate pump, ducting kit, vacuum breaker, powered anode rod and spin-down filter
Electrical for a heat pump water heater: a new 240V circuit is allowed
Non-water-heater items (for example smoke or CO detectors): only when code requires them
Ask your channel account manager about anything not listed above. Not included in the financed price: electrical system upgrades (other than a new 240V circuit for a heat pump water heater), hazardous materials and mold, and specialty permits. You can contract with the homeowner directly for excluded work.
Whether a new propane supply tank can be included in the price is decided on a case by case basis. Ask your channel account manager before quoting one.
Eligible sites
Comfort Plan site rules apply:
Single-family homes
1 to 4 unit homes owned outright
Townhomes where the homeowner owns the wall
Condos with one system per unit
Commercial and irregular structures aren't eligible
Contact your channel account manager before quoting a manufactured home.
NTP doesn't confirm site eligibility. As the installer, you're responsible for making sure the site qualifies.
For dealers
Quote and sell through the Palmetto portal, with Qualification and NTP managed there too
Another way to pay alongside cash and loans, with minimal change to how you install
You stay the customer's first call for service, with paid annual maintenance visits
Water heaters have their own enablement, separate from HVAC. See Water Heater: Getting Enabled.
Next steps
Need help?
Text INSTALLER to 888-531-3327 or open a chat in the Palmetto portal. Homeowners can call 855-339-1831.