When the EPA gets tough, we get tougher.
In advance of the year 2020, the Environmental Protection Agency (EPA) had let if be known that the emission standards in the wood stove industry would be significantly tightened up. At Hearthstone, we didn’t delay and got to work right away with meeting the new, tougher standards that had been set forth by the world’s best-regarded environmental scientists. We put each of our stoves through rigorous testing, pushed our R&D department and team of engineers to do better, and even employed third party experts to double-check our testing and reports. The inevitable results were that we were indeed successful.
We were so successful, in fact, that it seemed that our competitors couldn’t keep up. And before we knew it, we had claimed 5 spots in the top 15 HHV-rated wood stoves by the EPA. A big accomplishment for a small manufacturing company that’s been making stoves in the heart of the Green Mountains of Vermont for the past 42 years. But maybe it wasn’t that surprising after all. Our vision statement has always reflected a dedication to environmental consciousness. We know that even with the fact that burning wood is one of most environmental ways to heat your home (because wood is a 100% renewable resource), the more efficient we can make our burns, the better. That’s because using quality materials like soapstone which extend the heatlife of your burn, as well as employing wood-burning technology like TruHybrid, will reduce the amount of wood that you will need to use to get the same amount of heat from one of our competitor’s stoves. That’s probably why you’d understand that we walk around our hallways and production floor throwing around phrases, like “best damn stoves on the market” and “well, it’s a HearthStone–anything else is just a wood stove”.
And now that the government has released a special consumer tax credit in 2021 on wood stoves that meet a 75% HHV value or higher, we’re proud to announce that every single one of our free-standing wood stoves has met or exceeded that threshold. Every single one. That means that, as a consumer, your are able to earn a 26% tax credit on your purchase and installation of an eligible HearthStone wood stove.
- Consumers buying highly efficient wood stoves will be able to claim a 26% tax credit that is uncapped and based on the full cost of the wood stove (including purchase AND installation)
- The 26% tax credit is valid from January 1, 2021 through December 31, 2022. In 2023, the tax credit will remain in effect for the entire year, but the percentage steps down to a 22% tax credit.
- Qualifying wood stoves must meet at least a 75% HHV efficiency value
- You will claim your tax credit when you file your taxes on IRS form 5695 under “Residential Energy Efficient Property Credit “. You will need your purchase receipt (showing cost of product and installation). You will also need a HearthStone manufacturer certificate stating that the stove qualifies for the credit and is at least 75 percent efficient HHV.