$1,500 Tax Credit for Buying a 75%-efficient Wood or Pellet Stove
If you've been thinking of buying a new wood or pellet stove soon, then this may be the year.
The 2009 Economic Stimulus legislation signed into law on Feb. 17, 2009, in the U.S. offers a 30% tax credit (up to $1,500) if you purchase a 75%-efficient biomass-burning stove in 2009 or 2010. This includes wood, pellet, and corn stoves.
The tax credit is designed to help homeowners save on energy costs while utilizing renewable biomass fuels such as corn, wood, and wood pellets.
You will need to check carefully into the models you're considering, as only stoves with at least 75% fuel efficiency will qualify. The IRS is supposed to issue the full list of requirements by March 31, 2009. In the meantime, you can start browsing around!
your legs to get you out of their aisles) and spotted an electric fireplace for sale. The cost was about $500 (and I see there's another model listed on their website for closer to $700), so these are definitely not the entry level models, but they come with handsome mantels and look like lasting pieces of furniture.