Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Federal Tax Credit for installing a Biomass Heating System?

Discussions about the economic and financial ramifications of PEAK OIL

Federal Tax Credit for installing a Biomass Heating System?

Unread postby vision-master » Mon 10 Nov 2008, 14:28:39

I found this on another forum. Mine was installed this fall?

There is a $300 federal tax credit for biomass fuel stoves (used for heat or water heating) placed in service between January 1 and Dec 31, 2009. The stoves must have a thermal efficiency rating of at least 75%.


The law defines "biomass fuel" as any plant-derviced fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plant (including aquatic plants), grasses, residues, and fibers.

vision-master
 

Re: Federal Tax Credit for installing a Biomass Heating Syst

Unread postby vision-master » Tue 11 Nov 2008, 09:49:09

* bump *
vision-master
 

Re: Federal Tax Credit for installing a Biomass Heating Syst

Unread postby fletch_961 » Wed 12 Nov 2008, 02:02:35

Are you asking if you qualify for this tax credit? Or just letting everybody know that it exists?

The window for this tax credit is for 2009 only. The poster from the other forum is correct. The energy credits that expired at the end of 2007 have been renewed for 2009 along with some changes. This has been added:

(F) a stove which uses the burning of biomass fuel to heat a dwelling unit located in the United States and used as a residence by the taxpayer, or to heat water for use in such a dwelling unit, and which has a thermal efficiency rating of at least 75 percent.'.

Also this:

(g)This section shall not apply with respect to any property placed in service
(1) after December 31, 2007, and before January 1, 2009, or
(2) after December 31, 2009.
'.Link
User avatar
fletch_961
Peat
Peat
 
Posts: 118
Joined: Thu 31 Jan 2008, 04:00:00


Return to Economics & Finance

Who is online

Users browsing this forum: No registered users and 19 guests