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.
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:
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.
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