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Biomass Tax Credit

In recent years, there has been a growing emphasis on finding more sustainable and energy-efficient heating solutions for homes. As part of this movement, the federal government has introduced a Biomass Tax Credit that provides incentives for homeowners to install highly efficient wood and pellet stoves. This tax credit, which runs from January 1st, 2023, to December 31st, 2032, allows eligible taxpayers to receive a credit of 30% of the purchase and installation costs, up to $2,000 annually. In this comprehensive guide, we will explore the parameters of the Biomass Tax Credit, discuss the benefits of using biomass fuel, and provide guidance on how to choose a qualifying stove.

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