Do Electric Fireplaces Cost Less Than Wood?

electric fireplaces

Forecasters predict that the global electric fireplaces market will grow to $2.17 billion by 2028. That’s because more people are discovering the safety and convenience provided by these fireplace options.

These fireplaces can closely mimic the ambiance created by a wood fire, although they often lack the heating capabilities of a traditional fireplace.

How does an electric fireplace compare with a wood fireplace when it comes to cost, though? Keep reading to find out.

Installation Costs of Electric Fireplaces vs Wood

There are several ways to compare the costs related to the different types of fireplaces. The cost of installation is often the largest expense, depending on the fireplace you choose.

Cost to Install an Electric Fireplace

The cost to install an electric fireplace varies widely, depending on the type of fireplace you choose. You could pay as little as $200 or as much as $10,000 for one of these heating appliances.

This variety is the biggest benefit when shopping for an electric fireplace, as you can choose one that suits both your home’s style and your budget.

In some cases, installing an electric fireplace involves little more than plugging it into a nearby electrical outlet.

Cost to Build a Wood-Burning Fireplace

A wood-burning fireplace requires extensive construction and set-up costs, involving the following components:

  • A firebox
  • Mantel and mantel shelf
  • Surround
  • Hearth
  • Corbel
  • Plinth

The main element of this type of fireplace is the chimney, which comprises several features, namely a flue, liner, cap, flashing, crown, damper, and smoke chamber.

All these components add to the cost of installing a wood fireplace in your home. A wood-burning fireplace can cost as much as $10,000 to install.

If you already have a fireplace and want to upgrade it, you’ll pay a lot less for your new fireplace. You can also opt for an electric fireplace insert instead of a more expensive wood fireplace.

These inserts are an excellent way to enjoy the classic look of a wood-burning fireplace without the high costs involved. They use energy-efficient bulbs to closely mimic the look of a fire in your hearth.

Types of Fuel: Wood vs Electricity

Overall, a classic fireplace costs a lot more to run than an electric one. Wood is an expensive material in some parts of the country and offers variable efficiency.

Wood also requires a lot of undercover storage space and it’s time-consuming feeding and stoking a fire to keep it going.

Electricity is an expensive commodity too, but modern energy-star appliances, like electric fireplaces, use as much as 30% less electricity than conventional ones.

Overall heating efficiency is one of the most important criteria for evaluating the cost of heating fuels.

EPA-certified wood-burning stoves are up to 50% more efficient than fireplaces, although this agency also warns that wood-burning fireplaces are an inefficient way to heat your home, overall.

One way to maximize your fireplace’s efficiency is to ensure the wood is well-seasoned and dry enough to deliver the most bang for your buck.

The Environmental Cost of Wood vs Electric Fireplaces

Wood is a sustainable and abundant material, while electricity comes from fast-dwindling fossil fuel reserves. On the downside, deforestation contributes considerably toward global warming, too.

If you have solar panels installed in your home, you can use an electric fireplace guilt-free. Likewise, by using responsibly harvested wood, you can warm your home with a clear conscience.

From a pollution point of view, wood-burning fireplaces can introduce noxious gases into your home. Electric fireplaces don’t emit any harmful emissions.

Maintenance Costs for an Electric vs. Wood Fireplace

Electric fireplaces have few moving parts. That means there’s little that can go wrong with them.

Maintaining these fireplaces is simply a matter of checking the wiring and light bulbs every so often and keeping the glass display area clean. This is easy to do with a damp cloth and a non-abrasive soap.

Fireplaces are durable innovations, but they require regular and extensive cleaning. You should clean the ash from your fireplace after every use, and hire a chimney sweep to clean your chimney at least once a year.

During this process, they’ll remove any dangerous build-up of creosote from the chimney and check the fireplace components for cracks or other damage.

Wood Insert Fireplaces 2

Home Values and Wood or Electric Fireplaces

Whether a fireplace adds value to your home depends on where you live.

In cold areas, a fireplace is an invaluable asset to homeowners wanting to keep their homes comfortable while adding aesthetic appeal to their rooms. On the warm Florida coast, a sophisticated electric fireplace does the trick.

A wood or gas fireplace can improve home value both in terms of price and functionality. Electric fireplaces typically add minimal value.

It all depends on what potential buyers consider important. Not all homebuyers appreciate the intrinsic value of a wood-burning fireplace, and many find the high maintenance costs off-putting.

A custom-designed high-end electric fireplace can add elegance to your room and complement its modern design.

Wood-burning fireplaces suit expansive luxury homes and cozy mountain lodges. Suburban dwellings are a good match for electric fireplaces.

Choosing the Best Fireplace for Your Home

From the above, it’s clear that the costs involved in electric and wood fireplaces depend on a host of factors related to your circumstances.

There’s no doubt that it’s easier to make the right choice for your home and budget with a little expert guidance.

We can assist with information and insights on wood-burning, gas, and electric fireplaces. Browse our website for more tips, or get in touch for expert assistance at any stage of your fireplace installation.

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