{"id":3819,"date":"2021-01-14T18:36:34","date_gmt":"2021-01-14T18:36:34","guid":{"rendered":"https:\/\/www.woodpellets.com\/blog\/?p=3819"},"modified":"2021-01-14T18:38:23","modified_gmt":"2021-01-14T18:38:23","slug":"its-official-wood-heat-tax-credit-for-homeowners-passed-by-congress","status":"publish","type":"post","link":"https:\/\/woodpellets.com\/blog\/2021\/01\/14\/its-official-wood-heat-tax-credit-for-homeowners-passed-by-congress\/","title":{"rendered":"It’s Official: Wood Heat Tax Credit for Homeowners Passed by Congress"},"content":{"rendered":"

\"\"\"\"Recently, parts of The BTU Act (Biomass Thermal Utilization Act) were passed through Congress and signed into law, officially placing wood pellet stoves on a level playing field with other renewables that have been receiving appliance tax credits for a long time.<\/p>\n

What does this mean for residential wood pellet heating?<\/p>\n

A three-year investment tax credit (ITC) for high-efficiency wood-fired home heating equipment is now official!<\/strong><\/p>\n

The credit applies to the installed cost of home heating and hot water systems that utilize wood pellets, chips and cordwood at efficiencies greater than 75 percent high heat value.<\/p>\n

The tax credit is for 26 percent in 2021 and phases down to 22 percent in 2022 and 2023.<\/p>\n

For example, a wood pellet stove that costs $4,000 to install in 2021 will result in a savings of approximately $1,000<\/strong> when applied to the homeowner\u2019s 2021 tax return.<\/p>\n

Charlie Niebling, a consultant for wood pellet producer Lignetics, has been working to enact the BTU Act for more than a decade. He has called the tax credit plan a \u201cgame changer\u201d for residential wood heating.<\/p>\n

“Our message to Congress for years has been…don’t pick winners and losers,\u201d explained Niebling. \u201c[Wood heat] deserves the same recognition in the federal tax code that solar and wind do.”<\/p>\n

If you’d like details about this bill passing, read more\u00a0here<\/a>.<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"

Recently, parts of The BTU Act (Biomass Thermal Utilization Act) were passed through Congress and signed into law, officially placing wood pellet stoves on a level playing field with other renewables that have been receiving appliance tax credits for a long time. What does this mean for residential wood pellet heating? A three-year investment tax […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,188,12,9,10],"tags":[],"_links":{"self":[{"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/posts\/3819"}],"collection":[{"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/comments?post=3819"}],"version-history":[{"count":15,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/posts\/3819\/revisions"}],"predecessor-version":[{"id":3844,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/posts\/3819\/revisions\/3844"}],"wp:attachment":[{"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/media?parent=3819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/categories?post=3819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodpellets.com\/blog\/wp-json\/wp\/v2\/tags?post=3819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}