Pellet fuel is seen as a way to divert millions of tons of waste from landfills and turn it into energy. Pellet fuel is being used for heat in an estimated 800,000 homes across the United States. This biomass product is made of renewable substances – generally recycled wood waste. Local hardware stores are among many retailers who carry pellets. Pellet stoves are sold in local fireplace shops.
TAX CREDIT AVAILABLE:
The Internal Revenue Service (IRS) is offering a 30% consumer tax credit (up to $1500) for the purchase and installation of a 75-percent efficient biomass-burning stove.
- This consumer tax credit is 30% (up to $1500) for the purchase and installation of a 75% efficient stove, and is available in both 2009 and 2010.
The tax credit applies only to existing principle residences. The Pellet Fuels Institute lists other important points of the tax credit on their website at www.pelletheat.org/3/residential/taxCredit.html.
Since 1999, according to the data collected by HPBA, pellet appliance sales increased 669%, from 18,360 units shipped in 1999 to 141,211 units shipped during 2008. Overall, the pellet industry increased in seven out of the last eight years.
Source: Pellet Fuels Institute, www.pelletheat.org, Hearth Patio & Barbecue Association (HPBA)
