Is an Efficient Electric Stove Worth It? Savings and Payback (2026)
With electricity at 18.3¢ per kWh in the US, the saving is too small to justify the purchase: 26.1 years to pay back if you replace a working electric stove, and 11.2 years for the extra cost of the efficient model when you are replacing anyway.
An efficient electric stove cuts electricity by 20%: about 146 kWh, worth $26.78 a year in the US. Not for the electricity
- From
- Radiant glass cooktop, about 730 kWh a year
- To
- Induction cooktop, about 584 kWh a year
- Usage
- 1 hour of cooking a day
| Scenario | You pay | Payback | Net over its life |
|---|---|---|---|
| Replace a working electric stove now | $700.00 | 26.1 years | −$378.68 |
| Replacing anyway: choose the efficient one | $300.00 | 11.2 years | $21.32 |
Prices are typical figures; type your own quotes above. Net over its life is the total saving over the years it lasts minus what you pay. It ignores inflation, interest and changes in electricity prices, which is conservative while prices are rising.
Our take
Do not replace a working hob for the saving. Choose induction when the hob is replaced anyway; the speed and safety are the real reasons.
How the two models compare
| Inefficient | Efficient | |
|---|---|---|
| Model | Radiant glass cooktop | Induction cooktop |
| Electricity per year | 730 kWh | 584 kWh |
| Cost per year here | $133.88 | $107.11 |
| Over 12 years | $1,607 | $1,285 |
Usage behind these figures: 1 hour of cooking a day. Basis: Induction transfers about 85 to 90% of electricity into the pan against about 70% for a radiant hob, roughly 20% less energy for the same cooking, at 1 hour a day. The Electric Stove (Radiant Cooktop) page prices the appliance at its own typical hours, which you can change there.
The same upgrade in other countries
| Country | Saving per year | Payback, replacing now | Payback, replacing anyway | Verdict |
|---|---|---|---|---|
| United States (average) | $26.78 | 26.1 years | 11.2 years | Not for the electricity |
| United Kingdom | £38.43 | 18.2 years | 7.8 years | Not for the electricity |
| Germany | €54.02 | 13.0 years | 5.6 years | Worth it when replacing |
| France | €29.21 | 24.0 years | 10.3 years | Not for the electricity |
| Australia | A$51.10 | 13.7 years | 5.9 years | Worth it when replacing |
| Canada (average) | C$20.44 | 34.2 years | 14.7 years | Not for the electricity |
Local electricity prices, with the same purchase price read in local currency, which is a simplification. The saving column is what matters: the higher the price of electricity, the faster any upgrade pays back.
Other upgrades in the US, fastest payback first
- LED Light Bulbsaves $17.24 a year · worth it now
- Dehumidifiersaves $99.04 a year · worth it now
- Electric Water Heatersaves $562.30 a year · worth it when replacing
- Pool Pumpsaves $257.49 a year · worth it when replacing
- Wi-Fi Routersaves $19.26 a year · worth it when replacing
- Electric Sauna Heatersaves $311.23 a year · not for the electricity
- Chest Freezersaves $56.85 a year · worth it when replacing
- Hot Tubsaves $468.59 a year · not for the electricity
- Clothes Dryersaves $82.53 a year · worth it when replacing
- Air Conditionersaves $45.85 a year · worth it when replacing
- Refrigeratorsaves $78.86 a year · worth it when replacing
- Desktop Computersaves $56.30 a year · not for the electricity
- Space Heatersaves $165.06 a year · not for the electricity
- Dishwashersaves $25.68 a year · not for the electricity
- Washing Machinesaves $17.42 a year · not for the electricity
- Televisionsaves $13.39 a year · not for the electricity