NAR Posts

Monday, November 1, 2010

Tax credits

"Oct 26, 2010
HOUSELOGIC: Tax Credits for Installing Biomass Stoves

Claim Your Tax Credit:
To encourage homeowners to make energy-efficiency upgrades, Uncle Sam is offering a tax credit worth up to $1,500 on eligible improvements. Biomass stoves used to provide heat or heat water and that have a thermal efficiency rating of at least 75% qualify. You can claim the credit for purchasing a stove for your primary residence during 2009 or 2010, whichever year it was installed. The credit is based on 30% of the total cost of the stove. If you don’t max out the credit on a stove, you can apply the remainder to other energy upgrades like replacing your roof or adding insulation.

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