Save energy costs and contribute to a greener Earth by heating all or part of your home with biomass fuels. U.S. homeowners who purchase a 75%-efficient biomass (wood or pellet) burning stove, fireplace or insert and place it into service in their home during 2009 or 2010, can receive a U.S. federal tax credit for 30% of their cost, up to $1,500.
Uncle Sam wants to give you a break for using renewable energy !!!
The following products qualify for the Tax Credit:
Quadrafire:
· Santa Fe Series (Pellet Stove, Pellet Insert)
· Classic Bay 1200 Series (Pellet Stove, Pellet Insert)
· Castile Series (Pellet Stove, Pellet Insert)
· Mt. Vernon AE Series (Pellet Stove, Pellet Insert)
· EDGE 60 Pellet Fireplace
· 2100 Millennium Wood Stove
· 3100 Millennium Wood Stove
· 4300 Millennium Wood Stove
· 3100 Step Top Wood Stove
· 4300 Step Top Wood Stove
· 5700 Step Top Wood Stove
· Yosemite Wood Stove
· Cumberland Gap Wood Stove
· Isle Royale Wood Stove
· 2700i Wood Insert
· 3100i Wood Insert
· 4100i Wood Insert
· 5100i Wood Insert
· 7100 Wood Fireplace
HEAT & GLO
Northstar Fireplace
All Napoleon
(wood stoves & wood inserts)
All Flame
(wood stoves & wood inserts)
§ To be considered, a stove must use the burning of biomass fuel to heat a dwelling unit or to heat water for use in such a dwelling unit, and have a thermal efficiency rating of at least 75% as measured using a lower heating value;
§ Installation is covered, as long as it is a requirement for the stove's proper and safe functioning;
§ This consumer tax credit is 30% (up to $1500) for the purchase and installation of a 75% efficient stove, and is available in both 2009 and 2010;
§ The tax credit is an aggregate, i.e., the total $1500 can include other energy efficient items. For instance, if a consumer claims $900 on a new stove, then he will have $600 to purchase additional energy saving products in the same tax year;
§ If a taxpayer uses the entire $1500 tax credit on a competing product then they cannot use it for a biomass stove in that same tax year;
§ This credit applies only to existing principle residences;
§ Manufacturers must provide a certificate of qualification for each product as required in the guidance which can be obtained for the customer to use;
§ Taxpayers must retain the certification statement for tax recordkeeping purposes, but the certification is not required to be attached to the tax return;
§ Prior purchases made between January 1, 2009, and June 1, 2009 are covered if the manufacturer offers a certificate of qualification for the product;
§ If a manufacturer has documentation that a stove has already achieved the required efficiency rating, no further testing is required;
§ The IRS has not stated that inserts are covered, or are not covered, but based on EPA's practice of treating inserts and freestanding biomass stoves in a similar fashion, manufacturers may choose to include inserts.
If you would like to read the entire guidance, IRS Notice 2009-53, Non-business Energy Property, it can be found on www.hpba.org or at www.irs.gov/pub/irs-drop/n-09-53.pdf.
§ Installation is covered, as long as it is a requirement for the stove's proper and safe functioning;
§ This consumer tax credit is 30% (up to $1500) for the purchase and installation of a 75% efficient stove, and is available in both 2009 and 2010;
§ The tax credit is an aggregate, i.e., the total $1500 can include other energy efficient items. For instance, if a consumer claims $900 on a new stove, then he will have $600 to purchase additional energy saving products in the same tax year;
§ If a taxpayer uses the entire $1500 tax credit on a competing product then they cannot use it for a biomass stove in that same tax year;
§ This credit applies only to existing principle residences;
§ Manufacturers must provide a certificate of qualification for each product as required in the guidance which can be obtained for the customer to use;
§ Taxpayers must retain the certification statement for tax recordkeeping purposes, but the certification is not required to be attached to the tax return;
§ Prior purchases made between January 1, 2009, and June 1, 2009 are covered if the manufacturer offers a certificate of qualification for the product;
§ If a manufacturer has documentation that a stove has already achieved the required efficiency rating, no further testing is required;
§ The IRS has not stated that inserts are covered, or are not covered, but based on EPA's practice of treating inserts and freestanding biomass stoves in a similar fashion, manufacturers may choose to include inserts.
If you would like to read the entire guidance, IRS Notice 2009-53, Non-business Energy Property, it can be found on www.hpba.org or at www.irs.gov/pub/irs-drop/n-09-53.pdf.