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Will Electric Fireplaces Save Me Money?

When comparing the cost to run an electric fireplace versus a traditional gas or wood burning fireplace it does cost much less to run. 

Electric Fireplaces
are Green and Planet Friendly

Electric fireplaces are generally considered to be a green product and much better for the planet than a wood burning or gas fireplace. Traditional combustion fireplaces will emit chemicals into the air when burned like carbon monoxide, carbon dioxide, and formaldehyde. These gases are not safe for humans to breathe and are not good for the planet. Electric fireplaces on the other hand do not emit hazardous fumes and are therefore not only safer to use but better for the planet. The carbon footprint of an electric fireplace is practically zero since nothing is being burned. 

Electric Fireplace
Installation Cost

When installing a traditional combustion fireplace like a gas or a wood burner there are expensive installation costs involved with these types of fireplaces. For instance traditional fireplaces need to be vented which can be very costly. Installing a chimney on a flue can cost several thousand dollars. Running a gas line for a gas-burning fireplace can also cost a few thousand dollars and requires permits. An electric fireplace on the other hand does not require any permits to install, and does not require any venting, which will save a considerable amount of money on your fireplace installation. If you have your electric fireplace professionally installed, like framed into a wall, there will be minimal fees, and far less than a traditional fireplace. If you install your electric fireplace with a wall mantel package, no professional installation is required, and generally the installation cost when using a freestanding wall mantel fireplace is free. If you can turn a screwdriver you can install a wall mantel electric fireplace as it easily pushes up against a wall and plugs in. Done.

Maintenance Considerations & Fees

There are considerable maintenance fees associated with traditional wood and gas burning fireplaces. For instance your chimney and flue needs to be cleaned at least once a year in order to keep it safe. This is a considerable expense when using a traditional wood-burning fireplace for instance. The annual maintenance fees are not insignificant and should be factored into the cost of operating a traditional fireplace. Electric fireplaces on the other hand are very economical to run as they do not require annual chimney sweeps. Electric fireplaces are a fantastic consideration for those looking for a hassle-free fireplace experience with little to no maintenance, and annual expenses related to cleaning and maintenance.

Consumable Fuel Savings

Another factor to consider when operating a traditional gas or wood fireplace is the cost of the fuel that your fireplace burns. That will be in the form of wood or natural gas. As the cost of wood goes up and forests around the world are condensing, this cost can begin to add up. Although wood is still relatively inexpensive, the fact that it’s a consumable energy source, and becoming more scarce, year after year, the cost of this consumable fuel will go up. The more that you use your wood burning fireplace the more that it will cost you to operate, because you will be using more wood for fuel. Likewise a natural gas fireplace running off of propane for instance is also a consumable fuel that is becoming more expensive year after year, as less of it is available as it’s used. An electric fireplace on the other hand uses just electricity that can be created from renewable sources, and is much less to operate than a traditional fireplace, because no fuel source is actually burned and consumed and LED lights cost almost nothing to run.

Save Money With
Zone Heating

Did you know that 50-60% of your energy bill goes to heating and cooling costs? This is perhaps the most expensive part of your monthly utility bill as it costs a lot to warm air when using a central heating system. A huge way to save on your monthly electricity bill is to utilize zone heating. Zone heating means that you warm only the rooms that you’re in. There is no need to heat your entire home, if you’re spending most of your time in your living room. By using your home’s heating system as your primary heat source, and by keeping it at a low setting, you are saving money on electricity. You can then use your electric fireplace to warm just the room that you’re in, and keep the temperature exactly where you want it. This will greatly cut your monthly energy bill by a significant amount. An electric fireplace works great as a supplemental heating source. Keep in mind that the more square feet you warm, the more your bill will increase. Zone heating is not only economical for you, but good for the environment and highly recommended for anyone wishing to reduce their heating costs and help the planet. The amount of heat output from your fireplace is rated in BTUs. The higher the number, the more capable the heater is at proficient warming that room. 

Energy saving tip: Keep doors closed and windows sealed to minimize heat loss and cut your heating bills. 

What Will My
Electric Fireplace Cost to Run?

The million-dollar question that I’m sure you’re asking yourself is what will it cost to run an electric fireplace space heater? What about energy efficiency? We’ve made this quite simple by programming an electric fireplace utility bill calculator. This will let you know exactly what it will cost to run your fireplace. However there’s a few things that you’re going to need to know first, before calculating the energy usage of your fireplace. Check your latest utility bill or electric bill and find the cost per kilowatt-hour. This is usually somewhere between .10 to .13 cents throughout the United States, but differs from the region to region. 

Second you’ll need to know the wattage of your electric fireplace insert. The MagikFlame fireplace uses a 1500 watt heater which is standard. The next thing to factor in is how many hours a day you plan to use your fireplace. The more you use your heater the more it will cost, which is pretty clear. Also the temperature that you set your thermostat to also makes a big difference. The more heat that’s put out the more it will cost. 

Running the fireplace on high for instance with a $0.13 kilowatt hour cost, at 1500 watts will run you about $23.40 a month. However if you run that same fireplace electric heater on a low heat setting it costs only $7.80 a month to run, which is a significant difference. If you run your fireplace in ambiance only mode (flame effect only) IE:  not using your electric fireplace heater, the fireplace will cost you only about $0.47 a month to run. A very cost-effective solution for providing not only a beautiful flame, but also reduces your carbon footprint, and helps to save the planet, while lowering your energy usage. 

To find out what it will cost to run your electric fireplace, use our handy free utility bill cost calculator located here.

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