Tax Credit of up to $1,500 for a Biomass Wood or Pellet Stove Purchase in Rhode Island

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Mortgage and Lending with Fireplace Products LLC

Under the 2009 Economic Stimulus legislation, U.S. homeowners who purchase a 75-percent efficient biomass (wood or pellet) burning stove, fireplace or fireplace insert and place it into service in their home during 2009 or 2010 can receive a 30-percent tax credit for costs incurred, up to $1,500. 

After purchase, the homeowner can obtain an Official Manufacturer's Certificate from us at Fireplace Products LLC. It certifies that the product qualifies for the tax credit, and the homeowner can rely on the certificate when preparing his or her tax return. Homeowners are not required to submit the certificate or a product sales receipt to the government, but should retain them for their records.

 

The benefits of heating with biomass

There are multiple benefits to installing a wood or pellet burning appliance to produce heat in your home. Financial benefits are derived for years to come with reduced heating costs. And prices for wood and pellets are predictable when compared to propane, oil and natural gas, which can fluctuate greatly. "There are significant environmental benefits derived from heating your home with biomass," said Dan Henry, chief technical officer for Hearth & Home Technologies. "Burning wood and pellets is considered carbon-neutral since only the carbon the tree or plant absorbed when growing is released into the air, contributing to less greenhouse gases."

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