The base case analysis indicates that acceptable rates of return on investment are possible when utilizing wood as a commercial scale boiler fuel. Principal variables include the availability of cost competitive wood fuel over the term of the loan and overall installed cost for the system. In some cases the cost of coal at the point of end use will be comparable with wood. Hardware costs will determine system economics and applicable air quality standards, or lack thereof, will play an important role. The overall economics of using wood for fuel are extremely site specific. The additional 10 percent energy tax credit greatly enhances the economics of a wood fired system, although system economics are very attractive without this tax incentive. Cost of money does not seem to drastically affect overall system economics.