Pellet stove installation costs $1,600 to $4,100 on average. Pellet stove prices are $900 to $2,600 for the unit alone, excluding attachments like a chimney liner or vent pipes. Running a pellet stove costs $130 to $220 per month for pellet bags and electricity.

Wood stove installation costs $1,200 to $4,500 total the unit and professional labor. Building a new chimney and adding a wood stove costs $2,300 to $7,000 total. A wood-stove insert costs $1,200 to $3,400 installed if you have an existing fireplace. Installation labor alone costs $250 to $800.

• The most common types are freestanding models.
• You can install both pellet and wood stoves into an existing fireplace and chimney. Otherwise, you need a vent pipe through the ceiling or exterior wall to send all exhaust outside.
• Professional installation of stoves is typically essential in order to qualify for tax credits and warranty coverage.

Both wood stoves and pellet stoves work by burning wood products in the firebox and sending exhaust fumes outside through a chimney or double-wall vent pipes. While a wood stove heats the home with firewood, a pellet stove is only for burning compressed pellets made of wood byproducts.

A pellet stove works with electrical connections to run the exhaust fan and typically an igniter as well. A wood stove doesn't require any other power sources or connections.

For a more detailed comparison, see this handy pellet stove vs. wood stove guide.

Both pellet and wood stoves last for at least 10 yearson average. Pellet stoves tend to have a shorter lifespan of up to 15 years, whereas wood stoves often last for 20 years or longer when well-maintained.

All stoves need an annual deep cleaning of the firebox and attached vents or chimney liner to stay in good working order and prevent carbon monoxide leaks.

A pellet or wood stove is worth it for people who want:

• Heating for only 1 room or a home with an open floorplan
• Systems that only need one chimney or a vent instead of a big duct system
• Heating that doesn't rely on a gas line connection, propane tanks, or oil tanks

However, a pellet stove isn't ideal for people who want off-grid heating since the fan in a pellet stove runs on electricity.

Also, a wood stove isn't the best option for people who don't have an affordable firewood supplier nearby and those who lack the extra storage space for a wood pile.

Both pellet and wood stoves have the same average energy efficiency ratings of 70% to 83%. All stoves need to have a rating of 75% or higher to qualify for the federal tax credit.

While pellets are a more concentrated and efficient fuel source than firewood, both stove types have the same heat loss capacities depending on the model you buy. Request a high-efficiency pellet or wood stove to get energy efficiency ratings of up to 90%.

Installing a pellet or wood stove typically does raise your home insurance bill. Wood stoves tend to cause higher fees to insure due to the greater fire hazards, especially if you burn more than 2 cords of firewood annually.

Ask your insurance company if they require additional inspections as well to provide coverage.

Before hiring a pellet or wood stove installer near you, be sure to:

• Compare at least 3 different estimates from experienced installers.
• Avoid choosing the lowest bids that signal low-quality work.
• Select licensed, insured, and bonded HVAC contractors.
• Read their reviews on HomeGuide and Google.
• Request copies of estimates, plan diagrams, heating-load calculations, equipment orders, permits, warranties, and contracts.
• Verify the bid lists material, labor, equipment costs, and the installation schedule.
• Set up a payment schedule. Never pay in full up front.
• Ask the questions below before signing a contract.

Choose HVAC professionals with certifications like:

• The National Fireplace Institute (NFI) endorsements
• A mechanical contractor license
• Manufacturer-trained & qualified to install your brand
• Local hearth & pellet heating association memberships

Use the following questions to help you decide which stove installer to hire:

• Can I see photos of your past stove installations and a references list?
• How many stoves have you installed, and which types?
• Would a wood or pellet stove suit my needs best?
• Are there tax credits or rebates available for this stove model?
• Which stove types are compatible with the layout and venting in my home?
• Can you give me a warranty for the stove and your installation?
• How do you pick the ideal size and stove capacity to heat my house?
• Do you offer a service and maintenance plan?
• How much are permits and inspections for this stove type?
• Does this bid include stove materials, labor, cleanup, and delivery?
• Will I need a new chimney, stove vent pipe, or chimney liner?
• How much extra is it for stonework, a mantle, and a hearth under the stove?
• Can you recommend a local pellet or firewood supplier who sells in bulk?
• Do you subcontract any part of the installation, like electrical or masonry work?
• How long will the stove installation take?
• Do you offer any financing or payment plans?
• Will you comply with all local and state building codes for stove installations?