Tax Credits

Federal Biomass Tax Credit of up to $500
New as of Jan. 1, 2011

Let Uncle Sam pay you back for a percentage of your purchase price and installation costs for your wood pellet stove or insert! The Federal Biomass Tax Credit gives you dollar-for-dollar savings. A $500 tax credit saves you $500 on your taxes. Sweet!

New Earth Pellets ONLY sells stoves that qualify for the Biomass Federal Tax Credit, meaning they have an EPA-efficiency rating of 75% or higher. When you buy your wood pellet stove or insert from New Earth Pellets, and have it installed, we’ll give you a certificate of qualification to keep with your tax papers. Then we take it one step further and give you a handy statement showing the exact amount of your federal tax credit, which you’ll want to put on Line 3A of IRS Form 5695. It’s like getting a charitable donations statement from the Clean Heat Fairy.

What’s included in the tax credit?

• Up to 10% of the cost of your wood pellet stove or insert, including installation and venting costs
• Must be an existing home and your primary residence
• Must have a thermal efficiency rating of at least 75% (all the stoves New Earth Pellets carry meet or exceed that rating!)

To apply for your tax credit:

• Save your receipts, and the Manufacturer's Certification Statement you receive when your stove is installed, for your records.
• Save the New Earth Pellets tax credit calculation statement showing the amount of tax credit you’re eligible to put on your tax return.
• Fill out and submit IRS Form 5695 with your federal taxes.

To buy a new energy efficient wood pellet stove or insert, visit your nearest New Earth Pellet Depot or browse our selections on-line today.