|Stove manufacturers routinely claim
75% efficiency to be eligible for the
tax credit, even when stoves are far
below 75%. The average wood and
pellet stove may be around 70%.
Updated on December 16, 2014 – A short term extension of the $ 300 federal tax credit to purchase a new wood or pellet stove was signed into law by President Obama on Dec. 19, after having passed the House and the Senate.
The law extends a host of tax provision through Dec. 31 2014, making it almost entirely a retroactive tax credit. A two-year deal that would have extended selected tax credits through Dec. 21, 2015 fell through.
The tax credit, which started out at $ 1,500 applied to all stoves that were at least 75% efficient. The stove industry used a loophole to help ensure that all EPA certified wood stoves and all pellet stoves could claim to be 75% efficient. As a result, many consumers are unwittingly buying stoves that may be less than 60% efficient, or even less than 50% efficient. Pellet stoves in particular can be very low efficiency, saddling consumers with unnecessarily high pellet fuel bills.
Of the hundreds of stove models on the market, manufacturers have only disclosed actual, third party verified efficiencies for about 20 models and they are listed here. Blaze King is the only stove manufacturer who discloses actual efficiencies for all their models. To date, all the major pellet stove manufacturers have refused to disclose any actual efficiencies. Seraph Industries, a very small pellet stove maker, has disclosed their efficiencies and they are quite high.