26% Federal Tax Credit
Get a Federal Tax Credit up to 26% on qualifying wood stoves and fireplace inserts
If you’ve been thinking about replacing your wood stove or insert, or adding an entirely new one to your
home, you’re in luck. A tax credit will help you save money, as you help save the environment.
“HearthStone is committed to providing heating solutions that are sustainable, renewable, carbon-neutral,
and clean. Heating with wood is carbon-neutral heat source,” Hearthstone says on their website.
“Older wood stoves can impact the quality of the air both outdoors and even inside your home,” according
to Vermont Castings. “Updating your old stove with a more efficient option conserves energy, improves air
quality and enhances the aesthetics of your home. It also saves you money, especially if there’s a wood
stove changeout program or tax incentive available for you to leverage.
That tax incentive comes in the form of a credit under section 25(D) of the U.S. Internal Revenue Code. It
sounds complicated but simply means that, if you buy a highly efficient wood stove or insert, you can
claim a 26% tax credit based on the full cost, including installation, according to the Hearth, Patio &
Barbecue Association. This is slightly higher than the 22% tax break you would receive if you waited until
2023, so now is the best time to upgrade.
A spending legislation and pandemic relief package was signed into law at the end of December and
included a tax credit for wood stoves and inserts, according to the HPBA. Before this, only solar, small
wind, fuel cell, and geothermal systems qualified for the credit.
So, how do you find a qualified stove that will also look beautiful in your home? Fortunately, local hearth
business Aqua Pros has made it simple by teaming up with companies that have many options. For
example, its HearthStone wood stoves meet the Environmental Protection Agency requirements.
“At HearthStone, we didn’t delay and got to work right away with meeting the new, tougher standards that
had been set forth by the world’s best-regarded environmental scientists,” the company says on its
website. “We put each of our stoves through rigorous testing, pushed our R&D department and team of
engineers to do better, and even employed third party experts to double-check our testing and reports.”
That effort led to every single free-standing HearthStone wood stove meeting or exceeding the necessary
threshold to be qualified for the tax credit and better for the planet.
“Our vision statement has always reflected a dedication to environmental consciousness,” HearthStone
says. “We know that even with the fact that burning wood is one of most environmental ways to heat your
home (because wood is a 100% renewable resource), the more efficient we can make our burns, the
Aqua Pros also sells qualified models from Vermont Castings, so you have plenty of choices when
choosing the right stove for your home.
“All of our products are thoughtfully chosen with long term durability and efficiency in mind,” the company
says on its website. “Aqua Pros’ sales consultants are trained specialists in the hearth industry and stand
ready to help our clients with all their needs.”
As for claiming the tax credit, here’s what you need to know:
• Hold onto your receipt that shows the purchase and installation cost.
• Hold onto your manufacturer certificate that states the stove is qualified for the credit and has at
least 75% High Heat Value efficiency.
• Claim your credit on IRS form 5695 under Residential Energy Efficient Property Credit.
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