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Efficiency

Efficiency is the relationship between energy input and heat output.

High efficiency means that heat losses are reduced as much as possible. The higher the efficiency, the less fuel you consume. A high efficiency also means better and more complete combustion, with fewer harmful emissions and less residual ash.

 
 
Open fire efficiency: ±15%   SAE Y stove efficiency: >70% (wood) till >85% (gas)
 
For wood-burning stoves, 70% and above is a high efficiency (for comparison, an open fire achieves an efficiency of barely 15%).