Mason contractors should tell their customers about a little-known tidbit in the Economic Stimulus bill Congress passed early this year.
There is a 30% tax credit of up to $1500 for the purchase of a 75%- efficient biomass-burning stove, as measured using a lower heating value. The credit is part of a law passed in October 2008 which includes an extension to 2010 and an increase in the credit from $300 to 30% of the total cost.
Once the IRS issues more specific guidelines, wood and pellet stove manufacturers will test their stoves and notify retailers about their models that apply. “This stimulus legislation supports renewable energy and will help consumers control their winter heating costs,” said Jack Goldman, president of the Hearth, Patio & Barbeque Association. For more, visit www.hpba.org.