30% Federal Tax Credit Wood Stove Changeout & Incentive Program

A wood stove changeout program is a voluntary program initiated at the local, state or regional level that provides eligible communities incentives to positively impact air quality. Residents of participating communities can receive rebates, low/no interest loans and/or discounts to replace their old appliances, with newer, more efficient wood or pellet stoves and fireplaces. Beginning in 2023, consumers buying highly efficient wood or pellet stoves or larger residential biomass heating systems may be eligible to claim a 30% tax credit – capped at $2,000 annually – based on the full cost (purchase and installation) of the unit. For any questions, please call our team at 608-929-4887.

What is this new tax credit?

Effective Dates: The new tax credit under Sec. 25(C) of the U.S. Internal Revenue Code (“IRC” or “tax code”) is effect on January 1, 2023 for qualifying purchases and installations completed on or after that date, through December 31, 2032.

Credit Amount: Creates a new tax credit of 30 percent of the purchase and installation costs (with a $2,000 annual cap with no lifetime limit) for tax years 2023 through 2032.

Qualifying Products: Qualifying products (any biomass-fueled heater) must have a thermal efficiency of at least 75 percent per the higher heating value (HHV) of the fuel

The EPA Certified wood heater database may be referenced (not all products on the EPA list qualify. Look for products with efficiencies of at least 75%)

A manufacturer certification statement attesting that product qualifies can also be relied upon

Models That Qualify

Caddy Advanced Wood Furnace Mansfield Wood Stove Heritage Wood Stove Castleton Wood Stove Manchester Wood Stove Craftsbury Wood Stove Green Mountain 40 Wood Stove Green Mountain 60 Wood Stove Green Mountain 80 Wood Stove Shelburne Wood Stove Bari Wood Stove Bari Plus Wood Stove Clydesdale Wood Insert F500 Oslo Wood Stove Hipster 14 Wood Stove Hipster 20 Wood Stove Evergreen Wood Insert Evergreen Wood Stove Rockport Wood Stove AGP Pellet Insert AGP Pellet Stove Deerfield Pellet Stove Ashford 20.2 Wood Stove Ashford 25 Wood Insert Ashford 30.2 Wood Stove Boxer 24 Wood Stove Chinook 20.2 Wood Stove Chinook 30.2 Wood Stove King 40 Wood Stove Princess 29 Wood Insert Princess 32 Wood Stove Sirocco 20.2 Wood Stove Sirocco 25 Wood Insert Sirocco 30.2 Wood Stove Solution 2.3i Wood Insert Destination 1.9 Wood Insert Destination 2.3i Wood Insert Solution 1.4 Wood Stove Solution 2.3 Wood Stove Solution 3.5 Wood Stove Harmony 2.3 Wood Stove Destination 2.3 Wood Stove

To learn more about this Tax Credit, give our professionals a call or contact us here. We will be happy to guide you to the right stove or fireplace for your home that qualifies for the tax credit.

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