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Cost Analysis: Do Electric Fireplaces Save Money

Electric Fireplaces - Where can I buy a fireplace

It can be enjoyable to have a fireplace in the home because of the warmth and decorative elements they offer to interior settings. Electric fireplaces are an excellent feature to add to your home, whether you’re building a new house from the ground up or are remodeling your current property. If you want an energy-efficient and cost-effective fireplace, there are a few ways electric fireplaces can save you money with their use and advanced operation. 

In this post, you will learn:

  • Do Electric Fireplaces Save Money?
  • Cost of Installing an Electric Fireplace
  • Determine the BTUs You Need
  • How to Find the Best Electric Fireplace
  • Different Types of Electric Fireplaces
  • Benefits of Using an Electric Fireplace

Do Electric Fireplaces Save Money?

Before you choose to purchase an electric fireplace, it’s important to consider how much it’ll cost to use the feature every time you turn it on in the home. You may be asking, “Do electric fireplaces save money?” Knowing the cost to operate the fireplace can allow you to budget for the expense and determine how much it’ll increase your electric bill each month. It can also allow you to decide if an electric fireplace is the best type of fireplace to consider when you’re looking to save money.

Those who are looking to increase their energy savings or reduce their carbon footprint can resort to using electric fireplaces to obtain the same benefits as a wood-burning or gas fireplace that relies on materials like wood or natural gas. Switching to an electric fireplace can save hundreds of dollars throughout the year, even with consistent use of the product. You can use it multiple times a day without noticing much of a difference in your electric bill. It can even reduce your bills at the end of the year because it’ll make you rely less on your main heating source in the building.

Electric fireplaces use an average of 1,500 watts of electricity and range from 0.003 to three cents to use each hour. The main factor that determines the cost is if you choose to have the heating element turned on while the flames are activated. If you choose to heat the room, the fireplace costs nine cents per hour to use on the lower heat setting. Those who want the most warmth and heat possible can expect to pay 18 cents per hour.

Fortunately, electric fireplaces emit enough heat to increase the temperature in the room within minutes of turning them on, which means you don’t have to wait long to feel comfortable. There’s also no heat loss because there isn’t a chimney or venting where the heat can escape as the fire is in use, which can minimize the cost of your utility bills. Wood-burning fireplaces can lose 50 to 80 percent of the heat they produce. Compared to a traditional wood-burning fireplace, you also don’t have to keep a window open for added ventilation, which can make it easier to maintain the temperature in the space without feeling the chill of the outside air.

The low cost to operate an electric fireplace can make it affordable for most budgets. You can expect to pay $50 to $80 each year to make it work well when you’re trying to keep your energy costs down. Those who own a gas fireplace or wood stove typically pay $200 to $500 annually, depending on the climate and where they live.

The amount of heat it emits can supplement your central heating system to ensure you rely less on your heater throughout the colder months of the year. You can turn the thermostat down in the building to reduce your energy usage for additional savings. Compared to a wood-burning fireplace, electric fireplaces don’t heat the entire house, which can prevent rooms on the second floor from becoming too warm. The heat is contained in the room where the fireplace is installed to ensure you can stay cozy and avoid using more energy than necessary. You don’t want unused rooms of the home to get extra heat, which can increase your energy bills. With zone heating, you can control where the heat is present instead of eating the whole house and adjust the heat settings at any time.

Not only can you save on the cost of energy usage with an electric fireplace, but you also don’t have to purchase additional tools and equipment that is needed with other types of fireplaces. Because electric fireplaces don’t use wood, it means you don’t need to spend hundreds of dollars on wood logs during the fall and winter months each year. You can also avoid purchasing fireplace tools needed to stoke the fire because the flames never die out. You can even forego the costs of installing additional carbon monoxide detectors in the room because electric fireplaces don’t release any chemicals or particles due to their advanced technology.

Additionally, you don’t have to budget for annual chimney sweeps that are needed to reduce the risk of chimney fires. Because gas fireplaces don’t produce any smoke, there isn’t any creosote that builds up in the chimney, which means you don’t need to pay for cleaning. The lack of ash in the firebox also means you don’t have to maintain the fireplace after each use and get your hands dirty.

If you want to increase your savings without turning the feature off, consider using the electric fireplace during the day instead of during peak hours. Not only does the option of turning the heating element off save more energy, but it allows you to use the fireplace in the spring and summer when you want to enjoy the feature for the look of the flames. You can enjoy the stunning flame effects without increasing the temperature in the building. This can create a cozy ambiance in the room when you’re entertaining and are throwing parties.

Determine the BTUs You Need

Not only do you need to ask, “do electric fireplaces save money?” but it’s also important to determine how much warmth is offered with the product you select. Most people don’t want to compromise their level of comfort for something that has more energy efficiency. The heating system should keep you warm better than a space heater without causing the room to feel stuffy and humid with the warm air it releases.

Keep in mind that each electric fireplace varies with the BTU offered. The BTU determines how much the fixture can heat the space. It’s important to determine the square feet of the room you plan to use it in to calculate how many BTUs are needed. If you have a larger room, you’ll need to look for an electric fireplace with 7,500 or 10,000 BTU. Smaller rooms will require an electric fireplace with 5,000 BTU.

It’s important to select a fireplace with the correct BTUs to ensure it can heat the room efficiently to prevent cold spots from being present. If you choose a fireplace with too much heat, it can cause the room to become too warm and can waste excess energy.

Cost of Installing an Electric Fireplace

One of the main reasons consumers choose to purchase an electric fireplace is because of how easy it is to install. After you unbox it, you can set it up and plug it in to ensure you can enjoy using it the same day it arrives. You don’t have to hassle installing any vents, gas lines, or chimneys, which means you don’t have to make any modifications to your building to install the feature. It also means you don’t need any permits to add it to your home or office for a smoother and quicker process.

The simple operation and design of the best electric fireplace heater make it ready to use the moment you plug the cord into an electrical outlet. You don’t have to hire an electrician to perform any electrical work to get it up and running. This means that you can expect to pay close to nothing to install the fireplace in your setting and don’t need to hire a professional to assist.

If you choose to build a fireplace enclosure or surround, it’s an easy DIY project that can cost less than $100 for the materials you need. The surround will draw more attention to the insert and can allow it to look like a traditional fireplace that is wall mounted.

The frame of electric fireplaces doesn’t get hot enough to cause damage to materials that surround the feature. This makes it easy to install the insert in tile, stone, drywall, or wood for added versatility.

electric fireplaces energy efficient

How to Find the Best Electric Fireplace

Many people who are ready to invest in a new electric fireplace don’t always know what product to purchase because of the different options available in the industry. There are dozens of manufacturers present, which can make it difficult to determine which brands are the most reliable and offer the highest value of products.

It’s important to do your homework by reading reviews that are posted on the internet. You can get insight into other customers’ experiences and determine the lifespan of each product available. Touchstone, Dimplex, Duraflame, and Magikflame are some of the top manufacturers in the industry if you’re looking for something reliable and easy to use. These brands come equipped with advanced technology to create a realistic flame effect that will make your guests think that you have a traditional wood fireplace in your home.

MagikFlame has continued to increase in popularity in recent years because of the stunning visual effects it offers. It’s important to learn about the MagikFlame story to understand how the brand is unique and innovative. The founder, Howard Birnbaum, was looking for a realistic electric fireplace to purchase and searched high and low without finding something with advanced technology. Although he liked some of the craftsmanship on many of the models, the technology wasn’t up to par with what he expected.

With a background in making f/x special effects in the movie industry, Birnbaum decided to build his own fireplace to incorporate into his home. He used his skills and knowledge to invent holographic technology for fireplaces, which is now patented. He even recruited his father to build the fireplace mantle to create a stunning feature that birthed the new company.

The fireplaces the brand now makes for customers include 30 realistic flames, in addition to log crackle sounds for the ultimate experience of sitting by the fire. MagikFlame fireplaces even include an iPhone Bluetooth app to make it easy to control the different features of the product. This makes it easy to use your smartphone as a remote control for added convenience when operating the device from across the room. The LED lights used creates stunning visual effects and are easy to adjust to suit your mood.

Knowing how Magikflame is built can also offer insight into why consumers are loyal to the brand. All of the products MagikFlame inserts are American-made to ensure they operate better. Although other brands in the industry prefer to manufacture their products in other countries, MagikFlame insists on building each product in Nashville, Tennessee. The skilled team of professionals uses advanced software to ensure each piece is precise with the cuts that are made. This also offers convenience because if you ever need to order a replacement part, it’s much easier to obtain in the U.S. than if the fireplace is manufactured in another country.

MagikFlame also strives to provide VIP customer service and is available to answer your questions or over the phone, especially if you need help with the checkout process. You can speak to a live representative to place an order or inquire about a specific model. The agent can also explain the options available with payment plans and financing. If you want to conduct more research before making your selection, you can visit the website to read MagikFlame reviews to get an idea of what you can expect when using the product year-round.

Searching on websites like Amazon can allow you to discover different models available and compare the features available to ensure you make the right selection. Ordering online or over the phone can also save time and energy instead of visiting local stores and feeling limited by the options available.

Different Types of Electric Fireplaces

There are many different types of energy-saving electric fireplaces available, which can allow you to have more options with what you select. You can be more specific with what you want to own without settling for something that isn’t worth your investment.

If you want an electric fireplace that serves more than one purpose, you can opt for an item that doubles as a piece of furniture. Many electric inserts come in TV stands or dressers to make them functional, especially in small settings. You can enjoy having a place for your television or storing your clothes while also incorporating an electric fireplace into the bedroom.

If you want something that is more traditional, opt for a freestanding fireplace, which will look like it’s built into the room. Freestanding fireplaces often have mantels to ensure you can hang stockings or place decor pieces when styling the feature. The mantle is also a great place to place a large mirror. A popular trend many homeowners often follow is mounting the television above the mantel to make it the main focal point of the room. You can place your furniture around the fireplace and flatscreen television to create a functional and attractive setting.

It’s important to also take a look at the different types of electric fireplaces available in the industry or view a photo idea gallery to determine the types of effects that look most realistic. Some products use water vapor or mist, which is tinted orange, to make it look like there are real flames in the firebox. Keep in mind that this will require filling the reservoir each time you want to have a fire. The fire will also shut off when the water runs out.

Fireplaces with display screens and LED lights are a popular option because they often include a lot of details like burning embers and billowing smoke.

Benefits of Using an Electric Fireplace

Not only is it important for homeowners to ask, “Do electric fireplaces save money?” but you also need to know the additional advantages that come with owning the product. One of the main benefits that come with using an electric fireplace is the ability to protect your indoor air quality from different fumes and gases. Compared to a fireplace that burns wood, electric fireplaces don’t release any particles or contaminants into the room as they’re in use while still offering supplemental heating to the home. You don’t have to worry about breathing in formaldehyde or increasing your exposure to carbon monoxide.

You also don’t have to contribute to pollution each time you want to enjoy a fire. Electric fireplaces don’t produce any smoke, which means you won’t make an impact on the environment. If there are restrictions in place on how frequently you have wood fires, you don’t have to get fined for having a fire every day with your electric fireplace insert. It also offers peace of mind knowing trees aren’t cut down to heat your fireplace.

Fireplace inserts also fit within existing fireplaces if you want to update the feature and make it more economical. You don’t have to tear out the existing structure but can easily add the new electric fireplace to easily convert what you already own.

Another reason people like energy-efficient electric fireplaces is because of how portable they are to use. You can move them to any room of the home when you want to change the layout of your furniture. This makes the product ideal to purchase for renters because you can take the item with you when you relocate to a new home.

The variety of options and features available with electric fireplaces also offers more accommodation to the user. You can choose the flame color in the firebox to change up the look throughout the year. The flames can match the color scheme in the room or can allow you to decorate the setting for specific holidays. You can also select between small or large flames, depending on the type of effect you want to create. Viewing a flame gallery can also allow you to discover the different options available to create the perfect look.

Electric fireplace inserts can also be installed into a wall if you want it to blend in with the surrounding environment while taking advantage of their energy efficiency. The insert can become the focal point of your living room and can even increase the value of your home.

The low-maintenance design and operation of this type of fireplace also make it more appealing to those who don’t want to invest a lot of time, energy, or money in keeping the feature running. It doesn’t require any effort to start a fire after flicking a switch, and you don’t need to babysit the fire to keep it going.

A common concern for many consumers is the safety of the heat source when choosing the right product. Fortunately, the glass doors or panel on the fireplace doesn’t get hot when it’s in use, which means it’s safe to leave on if you have pets or children present in the home. You can still enjoy supplemental heat without putting your safety at risk.

Understanding the costs involved with an electric fireplace can allow you to learn the advantages and how much it can save you money without compromising your level of comfort. Not only does it make your home greener, but it can look decorative and visually appealing in your home or office. You can use your electric fireplace as both a heat source and a decorative item that creates a cozy and inviting setting.


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