Wood Stove Tax Credit
A 30 percent tax credit, up to $1,500, for the purchase of a 75 percent efficient stove in 2009 and 2010.
With winter rapidly on its way, the government is asking you to think about cost-effective and environmentally responsible ways to heat your home. In fact, it is encouraging eco- and cost-conscious families to consider efficient wood stoves or inserts by offering a 30 percent tax credit, up to $1,500, for the purchase of a 75 percent efficient biomass-burning stove in 2009 and 2010.
With the government behind this national movement from foreign oil to renewable and domestically produced fuel, it's time to consider the advantages both to the environment and to your wallet of owning a new, efficient wood-burning stove or insert.
"This tax credit comes at the perfect time - when people are trying to make their homes more energy efficient and less reliant on foreign oil, but are having difficulty making the transition due to the economy," says Bret Watson, president of leading cast iron wood-stove and insert maker, Jotul North America. "This credit essentially gives 30 percent off the purchase price of the stove or insert - up to $1,500 - making them much more approachable to everyone. Not only will taxpayers save money now through the tax credit, but they will save money on their heating bills in the years to come by buying an energy efficient wood stove or insert."
This tax credit makes it very easy for people to purchase new, efficient woods stoves or inserts. In fact, www.smartmoney.com recently calculated that by using a wood stove to heat a home, a homeowner could recoup the cost of the stove within two to three years with the tax credit.
Once a new wood stove is installed, homeowners will reap the cost-benefits of heating with wood for years to come. To help compare the cost of various home heating fuels, free fuel cost calculators are available online for consumers. Visitors can see how much they would save by using wood instead of oil, gas, coal or electric.
Homeowners save money with new clean burning wood stoves or inserts because of the efficacy of the stoves to heat homes with the least amount of fuel. New wood stoves or inserts have been built to optimize the heat of the wood. Older stoves let gases go up the chimney unburned and leave large amounts of ash. Gases and unburned particles can represent 60 percent of the potential heat of the wood. To avoid this, new, efficient stoves have designs that bring secondary air to the combustion chamber to burn gases and particles that would normally go up the chimney unburned. This is normally called clean burning technology and will increase the efficiency by almost 40 percent.
Cast iron has long been the preferred wood stove material. All the cast iron used by Jotul is recycled. Cast iron is extremely durable and long lasting. Also it is excellent at heat radiating; heat is stored and distributed more evenly and for a considerably longer period than any other material.
Another way wood stoves help lower costs is by directing the heat where it is used most. According to the Hearth, Patio, and Barbecue Association, people regularly use less than 40 percent of their home. If a family uses a wood stove to warm the rooms used most, they can heat more efficiently by turning down their central thermostat, and save money -- potentially 20 to 40 percent of their fuel bill.
In addition to the cost savings of wood stoves or inserts, the new efficient models are also much better for the environment. The fuel is renewable and supports American businesses, and the stoves release far fewer greenhouse gases into the atmosphere than ever before.
Many wood stove and insert dealers, such as the more than 300 authorized Jotul dealers across the U.S., will make it easy for taxpayers to receive the 30 percent credit on their new efficient wood stoves. They will provide a certification statement at the time of sale. This statement is all that is needed to receive the tax credit at tax time.
With the government encouraging everyone to make the move, now is the time to consider warming your home and office with energy efficient wood stoves or inserts. Courtesy of ARAcontent
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Keywords: firewood, wood stove, fireplace insert, tax credit, Jotul
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