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Choosing the right fireplace for your home involves more than just deciding on aesthetics or ambiance. Total ownership costs are a major factor to consider, as they extend beyond the initial purchase price.
You’ll need to account for expenses like installation, maintenance, fuel, insurance, and environmental impact. Below, we’ll explore the true cost of owning gas, wood-burning, and electric fireplaces, giving you a comprehensive view of long-term expenses.
Gas Fireplaces
- Initial Cost and Installation:
The cost to install a gas fireplace varies significantly. On average, a gas fireplace insert costs between $2,000 and $5,000, with installation costs ranging from $500 to $1,500, depending on the complexity of the project.
Costs of installation also depend on whether you will have a vented or ventless gas fireplace and whether you have access to a vent already. If you’re adding a gas line that could add another $250 to $500.
- Fuel Costs:
Natural gas fireplaces are relatively inexpensive to operate. The average running cost is about $0.20 to $0.60 per hour, depending on local gas rates, and can total around $60 to $200 annually, based on usage. Propane models cost more to run, averaging around $2.30 per hour.
- Maintenance:
Gas fireplaces require minimal maintenance, but annual inspections and servicing of gas lines are essential for safety, costing around $75 to $150 annually.
- Insurance:
Adding a gas fireplace may increase your homeowner’s insurance, though the impact is generally minimal compared to wood-burning units. The increase could range from $20 to $75 annually, depending on your provider.
Wood-Burning Fireplaces
- Initial Cost and Installation:
Wood-burning fireplaces can be more expensive to install. Costs range from $3,000 to $5,000 for a basic model, but with additional expenses like a chimney, installation costs can total between $7,000 and $15,000.
- Fuel Costs:
The cost of wood depends on your location and whether you purchase it or gather it yourself. The average homeowner spends between $200 and $500 per year on firewood.
- Maintenance:
Wood-burning fireplaces demand significant maintenance. Chimney cleaning and inspection are crucial for preventing creosote buildup and ensuring safety. These services cost around $100 to $250 annually. Chimney repairs, if needed, can be quite expensive, ranging from $900 to $7,000.
- Insurance:
Due to the higher risk of fire, insurance premiums can increase by $50 to $200 per year depending on your provider and location.
Electric Fireplaces
- Initial Cost and Installation:
Electric fireplaces have the lowest upfront cost and simplest installation process. Prices typically range from $200 and up depending on the style, features, and options. Installation is straightforward and rarely requires professional help, saving you on labor costs.
- Fuel Costs:
Electric fireplaces are powered entirely by electricity, making energy costs easy to calculate. Depending on the size of the unit and usage, you can expect a cost between $0.08 and $0.25 per hour, with an average monthly increase in your electricity bill an average of $10 to $20.
- Maintenance:
Electric fireplaces are essentially maintenance-free, with no chimney or vent to clean. Occasionally, light bulbs or LEDs may need replacement, which typically costs under $50 annually.
- Insurance:
Because electric fireplaces carry no real fire risk, they generally won’t affect your insurance premiums.
Cost of Converting a Fireplace to Electric
Many homeowners are interested in the cost to convert a fireplace to electric due to the simplicity and low cost of electric models. The conversion process typically involves decommissioning your current fireplace and retrofitting an electric insert, which can range from $300 up depending on the complexity of the job and the electric fireplace model you choose.
Factors that affect the cost include whether you're converting from a gas or wood-burning fireplace, with wood-burning to electric conversions often requiring additional steps to seal the chimney or remove the flue.
On the other hand, the cost to change a wood fireplace to gas typically falls between $1,500 and $8,000, making it potentially more expensive than converting to electric.
Environmental Costs
Gas Fireplaces:
Natural gas produces fewer emissions than wood, but it is still a fossil fuel that contributes to greenhouse gases. Gas fireplaces are around 70-80% efficient and release about 6,000 pounds of CO2 per year.
Wood-Burning Fireplaces:
Burning wood is carbon-neutral in theory, as trees absorb carbon dioxide during their growth. However, the process releases fine particulate matter, contributing to air pollution. While sustainable in some respects, wood-burning fireplaces can pose significant health and environmental risks, especially in urban areas. These fireplaces are only about 10-30% efficient.
Electric Fireplaces:
Electric fireplaces are the most environmentally friendly option, producing zero emissions directly in your home. The environmental cost depends on how your electricity is generated. If your electricity comes from renewable sources like wind or solar, the environmental impact is minimal.
For homes powered by fossil fuels, electric fireplaces can still be more efficient and eco-friendlier than gas or wood alternatives. Their efficiency can reach up to 99%, especially since they don't require venting.
When comparing the total ownership costs of gas, wood-burning, and electric fireplaces, it’s essential to look beyond the initial price tag. Each type has its advantages and challenges, so it’s important to weigh your needs, budget, and environmental priorities before making a decision.
Ready to make the shift to electric? Learn more about making the conversion.
| How to Convert a Gas Fireplace to Electric | How to Convert Wood Fireplace to Electric |
