FEDERAL TAX CREDIT EXPIRED DECEMBER 31, 2016

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To help Maryland homeowners invest in clean energy, the Maryland Energy Administration (MEA) provides grants for clean-burning wood and pellet stoves and inserts that displace electric or non-natural gas fossil fuel heating systems. You may be eligible for a grant of up to $700.00 Check out energy.maryland.gov

Remember to check manufacturers websites. Quadrafire, Heat-n-Glo, and Mendota all offer substantial incentives to purchase product, but these are usually coupons for specific products with short time limits, so be prepared to act swiftly!

The tax credit offered by the federal government for assistance with purchasing a wood or pellet stove has expired as of December 31, 2016. This was an extension of a credit from several prior years and may be extended again. We’ll keep you posted here.

The expired bill reauthorized, among other credits, the Sec.25C tax credit for non-business energy property. Included in this section is the 10 percent tax credit, capped at $300, for residential biomass stoves that are at least 75% efficient. The bill did not change any aspects of the tax credit, only moving the expiration date of the credit from Dec. 31, 2014, to Dec. 31, 2016. That means if you purchased an eligible hearth appliance in 2015 you can apply for a credit on your federal income tax. You need to use the IRS form 5695.

The Hearth Patio and Barbecue Association (HPBA) which we are members of lobbied hard for this extension of the credit as well as a number of our members contacting congress to keep our products included in this legislation. Thank you all!