American 30% Biomass Tax Credit: Extended
The Internal Revenue Service (IRS) has announced a 30% consumer tax credit •up to $300 on the purchase and installation of an energy efficient biomass-burning heater for your home. Napoleon® wood stoves, inserts, pellet stoves and pellet inserts, as well as our new Biomass furnace will meet or exceed the 75% efficiency rating standard set by the government.
For a complete list of qualifying units, please refer to the Napoleon® Certificate of Eligibility.
Napoleon® customers taking advantage of the tax credit require a Napoleon® Certificate of Eligibility to be remitted with your tax return. Napoleon® is proud of our continued support of the use of renewable energy resources and our commitment to energy efficient heating.
This credit can be applied to existing principal residences and is effective immediately, retroactive to any Biomass heating unit purchased since January 1, 2009. For additional tax information please visit the IRS website.
TAX CREDIT EXTENDED THROUGH 2011 WITH MODIFICATIONS:
Arlington, VA – (December 21, 2010) On Friday, December 17, President Obama signed into law the $858 billion tax package that keeps current tax rates in place and extends a series of tax credits geared toward boosting the sluggish economy. Included in this package was the extension of a tax credit for biomass heating appliances that was set to expire on December 31st.
The new tax credit as outlined provides:
- 10% credit for the purchase of biomass heating appliance in 2011, capped at $300
- Credit applies to purchase price only and is not extended to installation
