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Cheap Wood Burning Stoves Wood and pellet stoves can add an inviting atmosphere to any home. However, homeowners must consider the following factors prior to making a purchase. Cost as well as energy efficiency and environmental impact are a few of them. A wood stove should be able to boast a combustion efficiency rating of at least 75% as certified by the EPA. This will help to reduce the amount of smoke released into the air and may qualify you for a tax credit. Cost Many people choose to have a wood-burning stove as a low cost and eco-friendly heating solution