Save up to $1,500 on a RSF Fireplace!
What is this tax credit for?
The American Recovery and Reinvestment Act of 2009 (Recovery Act) signed into law on February 17, 2009, includes a 30% consumer tax credit (up to $1,500) for the purchase of 75%-efficient bio-mass burning stoves (i.e. wood and pellets) and can be used towards the stove, venting, hearthpads and installation costs for the 2009 taxable year and again in 2010.
The new tax credit begins immediately and applies to qualifying bio-mass burning stoves already purchased in 2009; the Internal Revenue Service (IRS) has issued a full list of efficiency guidelines regarding which products qualify.
When did the tax credit go into effect and how long will it last?
The tax credit went into effect January 1, 2009 and is valid for qualifying purchases during 2009 and 2010. The unit must be placed into service during 2009 or 2010, whichever year you are claiming the credit.
Why is this Happening?
The Recovery Act is an effort to give the economy a shot in the arm; it is designed to create new jobs and save existing ones and also addresses many issues which have long been neglected. Part of the Recovery Act ($43 billion) is designed to “Revive the renewable energy industry and provide the capital over the next three years to eventually double domestic renewable energy capacity”. Under this section of the Recovery Act homeowners are offered a 30% consumer tax credit (up to $1,500) for the purchase of bio-mass burning stoves that are 75% efficient or higher. The tax credit can be used towards the stove, venting, hearthpads and installation costs.
Do RSF Fireplace Products Qualify for the Tax Credit?
Yes, the below RSF wood fireplaces exceed the 75%-efficiency standard.
- Opel 3 Fireplace
- Opel 2 Fireplace
- Delta 2 Fireplace
- Onyx 2 Fireplace
- Topaz Fireplace
- Chameleon Fireplace
How do Consumers know these Fireplaces Qualify?
All RSF Fireplace products’ efficiency data have been generated and reviewed to ensure they are accurate. Please print the Certificate of Efficiency and keep a copy of it in your records. This certificate verifies that the product qualifies for the tax credit.
What Exactly is a Tax Credit?
After purchasing your new fireplace, you claim the credit on your federal tax return. Tax credits are different from tax deductions and can be more beneficial. Tax credits either increase your refund, or reduce the amount owed, dollar-for-dollar (in this case up to $1,500). Tax deductions simply lower your taxable income.
What is Biomass and why is it good for the Environment?
The term biomass refers to biological material that can be used as fuel, cordwood is an excellent example. All biomass products are renewable fuels derived from trees and plants. Burning biomass in new appliances is considered carbon-neutral. Whether wood burns in a certified appliance or simply decomposes in the woods the same amount of carbon is released, with virtually no green house gas effects. By heating with wood using a certified appliance you’re not only helping control air pollution, but decreasing our dependence on oil.