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Soapstone wood stoves hold onto heat the longest, which means you can burn less fuel and enjoy the warmth for longer. Additionally, catalytic wood stoves include a catalytic combustor that can reduce emissions and create a cleaner burn no matter what the stove is made of. Of course, the most efficient wood stoves also tend to be costlier up front—but they can still save you money in the long run.

Fireplace inserts have several potential disadvantages. The cost of the insert and its installation can be a significant investment, as the process can be complicated and expensive, particularly if modifications to the existing fireplace are necessary. Aesthetically, some people find that inserts lack the traditional look and authentic ambiance of an open, crackling fire. There are also ongoing costs for maintenance, cleaning, and fuel. Fuel type can be a limitation; for example, an insert may be unusable if you don't have access to its specific fuel source. Maintenance and repairs can also require specialized services, especially for gas or electric models. Finally, while an insert is more efficient than an open fireplace, it may not heat a home as evenly as a central HVAC system.

There isn’t a way to convert electric fireplaces easily or cheaply to gas. The process requires major renovations, as opposed to wood fireplaces, which are often already vented and have space for the gas-burning equipment. To convert an electric fireplace to gas, you’d need to remove your old fireplace and get a completely new install.

There are several ways to determine if your chimney or fireplace damper is open or closed. A simple method is to check for airflow by placing your hand near the fireplace opening; if you feel a draft or hear wind whistling, the damper is open. An open damper might also make the room feel cooler, similar to the outdoor temperature, or cause your HVAC system to work harder than usual. For a more definitive test, you can try a visual inspection, although it may be difficult to see. Alternatively, you can light a small piece of paper and observe the smoke; if it is drawn up the chimney, the damper is open. Always use the damper handle to adjust its position.