Thinking About Buying a Wood or Pellet Stove or Insert? Take Advantage of New (and Higher) Tax Credits!

Are you thinking about buying a wood or pellet stove or insert?

Now you can enjoy warmth and tranquility while making it easier on your pocketbook and reducing your carbon footprint. We explain how and why you should take advantage of a new and higher tax credit.

What’s new about the 2021 tax credit on wood and pellet heaters?

Over a decade ago, a $300 tax rebate was offered by the government to encourage the use of energy-efficient heating systems such as wood and pellet stoves. This incentive was just updated with new models in 2021 and generously increased to a credit of 26% of the purchase and installation costs of a qualifying wood or pellet stove or insert.

Why should I purchase or upgrade to a high-efficiency heating system?

A traditional, older masonry fireplace sends valuable heat up your chimney and can even release dangerous toxins into your living space. Having a Hearth Expert install a newer model wood or pellet stove or insert directs more heat into your room and provides a cleaner, hotter burn.

 

After hearing about the February 2021 energy crisis in the South, you may be considering living “off-the-grid” or having an option if the power goes out for a long time. Using a high-efficiency wood or pellet stove puts you in control of your heat source.

How do I get the tax credit?

We at Hearthside Hearth & Home are here to help you make sure you get the right stove or insert that qualifies for the new tax credit. We’ll provide you with all the necessary paperwork to file your tax credit easily.

Here are a few good things to know:

• The insert or stove must have a certificate showing it’s at least 75% efficient and be on the list of qualifying wood and pellet stoves or inserts.
• You’ll need to submit the certificate and your receipt for both purchase and installation with your 2021 taxes.
• You can still claim the higher tax credit if you purchased your stove or insert in 2020 but didn’t get it installed until 2021.
• If you purchased and installed your stove or insert in 2020, you can still file an amended tax return. See your tax preparer or irs.gov for more information. Additional information can also be found at hpba.org.

Which models qualify for the tax credit?

We carry the following stoves and inserts that qualify for the higher tax credit:

• Quadra-Fire Trekker Series Pellet Stove
• Quadra-Fire Trekker Series Pellet Insert
• Quadra-Fire Discovery I Wood Stove 
• Quadra-Fire 2100 Millennium Wood Stove 
• Vermont Castings Aspen C3 Wood Stove 
• Vermont Castings Dauntless FlexBurn Wood Stove 
• Vermont Castings Defiant Wood Stove 
• Vermont Castings Encore Wood Stove 
• Vermont Castings Intrepid FlexBurn Wood Stove with optional Performance Pack*  (Vermont Castings Intrepid FlexBurn Wood Stove without the optional Performance Pack does not qualify)

Have questions or wondering how to find the right wood or pellet product?

Give us a call at 423-842-1619 or visit one of our showrooms in Hixson or Cleveland, TN. Our team of hearth experts would be happy to help you find the best option for your living space.

Tags: pellet, wood
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