This may have been reported here before but I did a search and didn't find anything. I was web cruising yesterday and ran across this company and found this:
http://www.chimneysweeponline.com/taxcredit.htm (http://www.chimneysweeponline.com/taxcredit.htm)
The Catch22 to the credit is that it only applies to principle residence, if I read the applicable laws correctly. Those of us who are building recreational cabins are out of luck on that one.
http://www.irs.gov/irb/2009-25_IRB/ar10.html
http://www.irs.gov/pub/irs-irbs/irb09-25.pdf
My reading of the regulation is the same don. The other catch is the stoves must have an efficiency of 75%, far above what most are rated for.
If you have a wood stove in your primary residence and you replace it and move your old one up to your recreational cabin, it seems like that might pass.
As I recall there is an approved stove list. I believe it is the EPA list, except for states like WA that has it's own more restrictive lists, but anyone interested would be best advised to read the plan details themelves. What you do with the old stove is not addressed. No stove "cash for clunkers" deal where you have to scrap it. ;D
I think it's a good deal if you are building new or replacing an older wood stove.
Another thing to watch is that I'm certain this is a part of the overall energy efficiency credits deal that includes windows, water heaters, doors, air conditioning, etc. There is a $1500 limit on the total spent over the years 2009-2010.
On the subject of tax credits there are also the Renewable Energy Tax Credits, some of which also apply to other than principle residence.
Details can be found at...
http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US37F&re=1&ee=1
The gov page on the Energy Efficiency Credits can be found at...
http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=US43F&re=1&ee=1