30% Tax Credit in Stimulus for Biomass
Posted: Tue. Feb. 24, 2009 11:01 pm
The wood and pellet guys are advertising a component of the 2009 Stimulus Program. This program expands upon the Bush plan in that it allows a 30% (as opposed to $300) tax credit on the purchase of biomass heating units achieving efficiencies of at least 75%. It maxes out at $1500. That's real money. A $4500 wood or pellet boiler could now be more like $3000. Sure coal is still cheaper per BTU (by far), but sooner or later, we will be getting a "fossil fuel BTU tax" just like in Europe. It's just a matter of time.
I know that most of us are coal burners, but in my case it had more to do with overall economics, automation, and function. For those of us with family or friends considering a solid fuel choice, that cash could definitely tip the scales toward wood. If those incentives are out there, everybody should know about them.
I know that most of us are coal burners, but in my case it had more to do with overall economics, automation, and function. For those of us with family or friends considering a solid fuel choice, that cash could definitely tip the scales toward wood. If those incentives are out there, everybody should know about them.