REBATES AND TAX CREDITS
Older wood stoves and wood heaters can impact the quality of the air both outdoors and even inside your home. Updating your old stove with a more efficient option conserves energy, improves air quality and enhances the aesthetics of your home. It also saves you money, especially if there’s a wood stove changeout program or tax incentive available for you to leverage.
Residents of communities with changeout programs can qualify for rebates, low/no interest loans and/or discounts to replace old appliances with cleaner-burning options. There are also tax credits, deductions, exemptions and rebates provided by state, federal and local governments.
Any of these options can significantly lower the cost of replacing your old stove or heater, making the investment easier to manage financially and the long-term payoff even greater.
FEDERAL TAX CREDIT
Congress has extended the $300 tax credit for qualifying biomass stoves and fireplaces—stoves and fireplaces that burn wood or wood pellets and are at least 75 percent efficient—through the end of December 2020.
If you purchase a wood burning or pellet burning stove to heat your home, you can add the purchase to your tax return for a $300 dollar for dollar non refundable tax credit. Qualifying stoves must have a thermal efficiency rating of at least 75%.
Contact on of our fireplace experts to find out which products will qualify.