Thinking of switching from your old-school electric or gas stovetop to a next-generation induction model? You’re not alone. The increasing demand for energy-efficient and time-saving kitchen appliances has led many homeowners to take a closer look at these trendy — though costly — stoves.

Induction stoves may have hit the headlines just recently, but this type of cooking technology has been around for decades. Frigidaire was the first to demonstrate induction stoves in the 1950s, and Westinghouse released residential models in the early 1970s. Induction stoves have only really caught on over the last decade, however, as consumers become more energy-conscious.

“From a sustainability perspective, induction cooktops are the best choice,” says Matt Daigle, founder and CEO of the sustainable home improvement company Rise. “They are efficient and help lower your home’s power bills and footprint.”

Here’s what you need to know before deciding if an induction stove is right for you.

What Is an Induction Stove?

Electric and gas stoves work via thermal conduction. Heat is transferred from the burners to the cookware, warming both the pot or pan and the food inside.

Induction stoves, on the other hand, work with electromagnetic induction. When you switch on the power, an alternating electric current passes through copper heating coils installed underneath its flat glass or ceramic surface. Place a metal pot containing the right amount of iron on top, and voilà — you’ve activated a magnetic charge that heats the food while the cookware and stovetop remain cool to the touch. (Note, however, that the hot food can warm the bottom of the pan, which then heats the stovetop, causing the burner to remain hot after removing the pan. Some models include a red warning light to indicate heat and prevent burns.)

What does that mean? More heat goes to cooking and less into the stove, cookware and surrounding air. “Gas stoves only use 40 percent of the heat generated to actually cook food,” Daigle says. “Traditional electric cooktops use only 65 to 75 percent, while induction cooktops use 90 percent.”

Not only is there less heat dispersion, but the process of induction works much faster than conduction. That’s because there’s no wait for the burner to heat up the pan, which cuts cooking times significantly.

Induction Stove vs. Electric Stove

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Both induction and electric stoves sport a slick glass stovetop (although some electric models have coiled burners) and work with electricity, but their similarities end there. Here are some of the pros and cons of each.

Induction stove

Pros:

• More energy-efficient, with less dispersion of heat for faster cooking times and a cooler kitchen.

• Burners heat up and cool down immediately for more precise temperature control.

• If the cookware gets too hot, the burners shut down. As chef and residential appliance technology specialist Andrew Forlines explains, “If an emergency pulls someone away from cooking when the heat of the cooking vessel goes above a typical cooking temperature, the induction burner will sense this and shut off.”

• Burners only turn on when compatible cookware is placed on top, activating the electromagnetic charge.

• Cookware and burners remain cool to the touch and can be cleaned immediately after use.

Cons:

• Considerably more expensive than traditional electric stoves.

• Can only be used with compatible post or pans, although “any magnetic metal will work with induction,” Forlines says. “If a magnet sticks to your cookware, the induction burner will work with it.”

• Takes some practice to get used to. The shorter heating times may lead to overcooked food until you get the hang of it.

Electric stove

Pros:

• More affordable to purchase, although you’ll spend more on electricity to power it over time.

• Familiar to most home cooks and intuitive to use.

• Any cookware will work with electric burners.

• The residual heat of the burners helps you keep the food warm even after you’re done cooking, according to The Brilliant Kitchen chef Grace Woinicz.

Cons:

• Less energy-efficient as you wait for the burners to heat up.

• It takes a while to transmit heat from the burner to the cookware, increasing cooking times.

• The same residual heat that keeps food warm presents safety issues. “You can’t touch or clean the stove for a while after cooking,” Woinicz says, “and it is also a risk if you have kids at home.”