Did you know that in 2021, the estimated worth of the global electric fireplace market was $2.1 billion? Moreover, experts project it to grow to $2.2 billion by the end of 2022 and a whopping $3.2 billion come 2032.
One reason behind that growing popularity is that electric fireplaces are safer. After all, they don’t use combustible fuel and don’t emit dangerous fumes and gases. Whereas, wood-burning fireplaces produce both, raising the risk of lung diseases.
Moreover, electric fireplaces can be cheaper than their traditional counterparts.
But how much does an electric fireplace cost, though? What factors can influence its price? And most importantly, is it a worthy expense?
We’ll answer all those questions below, so keep reading to learn if it’s a good idea to get an electric fireplace.
What Is An Electric Fireplace?
An electric fireplace is a device that uses electricity and metal coils to produce heat. As the metal loops turn hot, they warm up the cold air that passes over them. From there, a fan or blower motor forces the now-hot air back into the room.
That makes electric fireplaces similar to how space heaters work. And like the latter, you can also get an electric fireplace for each room in your house.
The primary difference is that electric fireplaces come with an added aesthetic benefit. After all, their design mimics the look of traditional home fireplaces that use coal, wood, or gas.
For instance, electric fireplaces produce realistic-looking flames using LED bulbs and refractors. Some models even have an audio device that emulates the sounds of a crackling fire.
So, How Much Does An Electric Fireplace Cost?
The price of electric fireplaces can range from as low as $300 to as much as $10,000. That primarily depends on factors like the type of fireplace you get and the labor costs in your area. However, adding extras like accessories can further increase your final bill.
Type of Fireplace
Prefabricated fireplaces, also called prefab for short, are factory-built devices. A fireplace installation company then transports the ready-made fireplace to your home. Their crew also sets it up for you; they can mount it on a wall or insert it into a ready nook or recessed space in a wall.
Most prefab electric fireplaces are plug-in devices, so you only have to connect them to a wall outlet. Then, just hit the power switch to turn them on, and voila! You can start enjoying a warmer, cozier room in minutes.
Since they’re easy to install, prefab electric fireplaces cost less than custom ones.
A custom fireplace is one manufactured based on your specifications. An example is if you want the device to be of a specific height, width, and length. Since the manufacturer has to create it from scratch, you can expect it to cost more than a prefab.
According to one guide, the cheapest wall-mounted prefab fireplace can cost only $300. On the other hand, the custom ones can fetch prices as high as $10,000.
Labor Costs
Where you live influences how much your fireplace installation costs. It affects the cost of labor, so the higher the cost of living in your area, the more expensive services are. So if you live in one of the priciest U.S. cities, say, New York City or San Francisco, expect to pay more for labor.
Another labor-related factor is the complexity of the fireplace installation. For example, it costs more if it requires specialized wiring, which involves more work. Likewise, extra prep work, such as creating a recess in a wall to insert the unit in, also adds to your cost.
On the other hand, expect to pay less if it’s only a typical mount-and-plug installation.
Additional Accessories
You can further customize an electric fireplace with extras like log installments. Also called log sets, these accessories mimic the look of burning logs or driftwood. Cheaper versions consist of plastic and metal, while the higher-end ones feature ceramic.
Black stones made to look like coal or lava rocks are also available. In addition, you can get extra LED light sets that change colors to make the faux flames look more realistic. And if you want, you can add a sound system that simulates a woodfire’s popping and crackling sounds.
The accessories you choose can raise your total cost by a few hundred dollars. For instance, log sets cost at least $120 to $200, while a sound system can cost around $40.
Is An Electric Fireplace Worth It?
An electric fireplace may be worth it if you want to improve a room’s thermal comfort, looks, and ambiance. And while a space heater can do the same job of warming up a room, it doesn’t look as pretty.
An electric fireplace can also be cheaper than its gas or wood counterparts. For one, gas and wood fireplaces require specialized ventilation and noncombustible wall coverings. Those requirements can add a hefty amount to your material and labor costs.
Another perk of electric fireplaces is they are easier to maintain than a gas or wood-burning one. After all, they don’t burn materials, so you don’t have to worry about cleaning ash and soot.
Thus, if you want a fireplace that’s not as messy, an electric one may be a worthy alternative.
Consider Investing In Electric Fireplaces Today
And there you have it, the guide answering your question, “how much does an electric fireplace cost?” Now you know it can go for as little as $300, but the custom ones can cost up to $10,000. However, you also learned they’re often cheaper and safer than gas or wood fireplaces.
So, if you’re on a budget but want a lower-risk fireplace that’s also easy to maintain, you might want to go electric.
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