Are electric fireplaces cost-effective?

Are electric fireplaces cost-effective?

The increase in the electricity bill and the new tariffs regulating prices are leading many people to wonder if it’s cost-effective to use electricity for heating. Some time ago, the so-called “blue heat” seemed like an efficient and economical system, but not so much today. This has led many people to consider installing wood-burning fireplaces or some other system, leaving electric fireplace models aside because they are considered inefficient and expensive compared to the rest.

On the other hand, with the arrival of new energy companies offering significant discounts on the electricity bill, there are still those who doubt whether electric fireplaces are as unprofitable as claimed, considering that there are models that need to be plugged in, such as pellet fireplaces, to regulate the fuel consumed.

What advantage does an electric fireplace offer?

Let’s start by talking about the positive aspects of this type of fireplace, because there are some. The main advantage of electric fireplaces is that they convert all the electricity they consume into heat, which means that in terms of energy efficiency, they surpass the rest. Pellet fireplaces or wood-burning fireplaces can have losses ranging from 10% to 30%, which do not convert into heat.

Therefore, if we look at it solely as energy utilization, electric fireplaces are number one, in addition to being able to choose a modern and highly decorative fireplace design, although this is secondary.

When are electric fireplaces cost-effective?

In reality, the efficiency being its strong point is not really something that helps to decide in favor of these fireplaces. The electricity price is higher than other fuels, so these fireplaces are only profitable when they are already installed and used for a few days in the year. In areas that are not very cold, it may not be interesting to switch to a fireplace because the investment would not be recovered in the medium term.

electric fireplaces

There are situations where an electric fireplace is the only option if you want to enjoy the decorative effect that this type of heating provides. Apartment buildings do not allow the installation of a fireplace for obvious reasons, as a smoke outlet cannot be installed. In addition, the safety measures in electric stoves are the only ones compatible with certain building materials.

If the area where you want to install the fireplace has long winters or experiences significant temperature drops, keeping an electric fireplace on is not exactly cheap. Even with discounts and offers from companies, the cost of heating with electricity is considerably higher than other fireplaces.

The answer to whether electric fireplaces are profitable is actually no. It is much better to opt for other types of systems whenever possible unless it is a space with minimal use.