Tax Credit
TAX CREDIT MAKES WOOD STOVES AND FIREPLACE INSERTS MORE AFFORDABLE
Earn up to a $1,500 Tax Credit When Purchasing a Clean, Green Heating Appliance
As temperatures fall and thoughts turn to warding off the approaching cold weather, Americans have more incentive than ever to install a new wood or pellet-burning stove. That's because homeowners can save significantly thanks to a federal consumer tax credit designed to encourage energy-conscious purchases. It can cover 30 percent of the cost of clean, fuel-efficient stoves and fireplace inserts, up to a maximum credit of $1,500.
"When the cold is on the way most families will be looking for ways to cut their home heating bills," said Jack Goldman, president of the Hearth, Patio & Barbecue Association (HPBA). "Fireplaces and stoves have always been a great option for saving money because they reduce energy costs and add value to homes. But with this new tax credit, there's never been a better time to buy."
How it Works
- Burn a biomass fuel source like wood or renewable pellets
- Will be installed during the eligibility period in an existing principal residence, not a newly constructed house or vacation home
- Meet a minimum 75% efficiency rating as certified by the manufacturer
The tax credit - which can lower your tax bill on a dollar-for-dollar basis - applies to stoves or fireplace inserts purchased between January 1, 2009 and December 31, 2010 that:
Purchasers of qualifying stoves and inserts can claim the credit on their federal tax return. These consumers should save their receipt and the manufacturer's certification that states the appliance they purchased is eligible. Installation and venting costs are included in calculating the credit's total value, as long as professional installation is required for the proper and safe operation of the stove.
Get the Facts
To learn more about the tax credit stop by our showroom, give us a call or drop us an email. We can help warm your home while also taking advantage of this great tax savings opportunity.
Bowden's Fireside Hearth and Home
1731 Nottingham Way
Hamilton, NJ 08619
609-586-3344
"This tax credit offers consumers the best-yet opportunity to control home heating costs and support renewable energy," said Jack Goldman. "Today's stoves and inserts not only provide efficient heat, but are also environmentally friendly - and the tax credit makes them extremely affordable."
