New Tax Credit On Select Stoves & Inserts

Wood Burning Stove
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Wyatt Martin
Barbecue Eatin Expert

30% Tax Credit on Qualifying Wood and Wood Pellet Units

Yes- you saw that correctly, a 30% tax credit. Found under section 25(C) of the tax code as modified by the "Inflation Reduction Act of 2022", this new credit covers 30 percent of the purchase and installation costs (up to a $2,000 annual credit) for tax years 2023 through 2032.

Those purchasing a qualifying high efficient wood-burning or wood pellet unit now thru December 31, 2032, will be able to claim a credit for the entire purchase price.

So What’s The Catch?

No catch. To qualify, the unit must be 75% efficient per the fuel’s higher heating value (HHV). Manufacturers will inform their dealers which of their units meet the credit standard.  All you have to do is inform the dealer you would like to purchase a qualifying unit, and the dealer will present a certificate to you at the time of purchase stating that unit qualifies for the tax credit.

 

For more detailed information about the tax credit, visit the HPBA website.


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