December 31, 2011 is the deadline for installation of high-efficiency biomass heating appliances in order to qualify for the 2011 Government Tax Credit. Qualifying pellet and wood-burning fireplace inserts and freestanding stoves must be at least 75% efficient. Most major manufacturers such as Regency and Hearthstone have a list of qualifying appliances on their websites and downloadable certificates.
In order to get the credit, homeowners must have the stove installed by December 31, 2011 in their primary residence. Homeowners should keep their receipt for materials from the installer, along with the certificate for the stove efficiency from the manufacturer. The credit has not been extended to 2012.
For more information visit the Hearth, Patio, and Barbeque Association website.
The new tax credit as outlined provides:
- 10% credit for the purchase of a 75% efficient biomass heating appliance in 2011, capped at $300
- Removal of the lower heating value level (LHV) efficiency measurement
- Credit applies to purchase price only and is not extended to installation
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