10 Things You Need to Know About Wood Pellet Fireplaces

Tax Credits

For the last several years, tax credits have been offered to those who make home improvements that are considered green, contributing to the preservation of the environment. The 2011 tax laws state that U.S. homeowners who purchase a 75 percent-efficient biomass (wood or pellet) burning stove, fireplace or insert during 2011 can receive a U.S. federal tax credit for 10 percent of their cost -- up to $300 [source: Fireplaces.com].

If you installed a wood pellet fireplace in years past, you could still be eligible. Check to see what tax benefits were offered then, and find out if you can benefit: You may be due a credit.

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