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Running a gas fireplace is potentially cheaper than using central heating if you are heating a single room and don’t need to heat the entire house. That's because gas fireplaces are a better source of direct heat, making them more efficient for warming small spaces. Central heating, while more efficient for whole-home warmth, uses more energy overall. Strategically using a gas fireplace, therefore, can help lower heating bills.

A fireplace can increase a home's value by as much as 12%, with some reports indicating that homes with fireplaces list for around 13% more than the median sale price. Fireplaces are both functional and aesthetically pleasing, adding a charm that many homebuyers find desirable. The actual return on investment depends on the fireplace's size, type, and material.

However, a fireplace can detract from a property's value if it is unusable, not up to code, or in need of immediate repairs. The type of fireplace also matters; custom electric fireplaces and inserts can add value, while freestanding units that can be removed have less impact.

Pellet stoves are used as heat sources for homes. They work by burning biomass pallets, which might be composed of wood, sawdust, or food waste. The pellets are stored in the stove's hopper until the stove is ignited, at which point some are released into the stove's firebox to burn for heat. Unlike most fireplaces, pellet stoves have a thermostat that adjusts the temperature by releasing more or fewer pellets, depending on how warm you want to make your living space.

Yes, there are regulations on using wood stoves, particularly concerning emissions and installation standards. The Environmental Protection Agency (EPA) sets emission limits for wood stoves to ensure they burn cleaner and more efficiently. Additionally, local building codes may have specific requirements for installation and venting, so it's essential to check with local authorities before installing or upgrading your stove.