Chimney Care Company's Blog
Tax Credit for Upgrading Your Stove to an EPA Rated Stove
Replacing your old stove or fireplace has a variety of benefits, including being more environmentally friendly, keeping your family safe, and—best of all– saving money! Older wood stoves and fireplaces are not up to EPA standards, however; the majority on the market today is. You can tell if your stove is EPA certified because it will be labeled on the back. You can also check the EPA’s list of certified wood heaters. Stoves that are not already certified are not able to get certification; if your stove is not already certified, you must buy one that is.
Wood smoke is essentially wasted energy. EPA rated products have better insulation and improved air flow. With a properly installed EPA rated fireplace, you will see and smell much less smoke; which means less harmful chemicals in the environment. Because they are more efficient, there will be less creosote buildup in the chimney, lessening the risk of a fire and keeping your family and home safer.
Money Savings
There is also money to be saved when you make the switch. The higher efficiency means that you will spend less time and money replenishing and hauling fire wood. Making the switch means you will use up to one-third less fire wood. In addition, your purchase may qualify for a Federal Tax Credit for Consumer Energy Efficiency. Ten percent of your stove, up to five hundred dollars, may be covered. Make sure that you save all system receipts and manufacturer certifications, in case the IRS asks for proof of your energy improvements. Then, make sure to file IRS form 5695 with the rest of your tax forms.
Requirements
There are some stipulations on switching your older fireplace. You cannot sell the old fireplace because if someone else is using it, it will not help the environment, which is, of course, the EPA’s main goal. The EPA recommends that the old stove be put out of commission. The new stove must also be installed by a professional. If a certified technician installs it, you can get a rebate and be assured that it will perform properly. Stoves installed by non-professionals can be deceptively dangerous. Problems with the installation may not be initially apparent—and may result in fires. Used, non-certified stoves can either be scraped or traded in with the purchase of the new one.
Deciding on which new stove or fireplace to buy may be difficult. You have the choice of wood, pellet, or gas burning and stoves, inserts, or fireplaces. It depends on your preference, needs, and budget. There’s not a one size fits all solution. Fortunately, you can make an appointment at Chimney Care Co. and we can walk you through the wide array of options. We sell and install stoves and fireplaces, so you can count on us during the entire process. Later on, you can also call us for maintenance and repairs. We do it all! Your wallet, your family, and the environment will thank you.