Yes. Compared to electric heaters, infrared heating panels are more cost-effective. They require less power to produce the same amount of heat an electric heater does. An infrared panel requires a third of the wattage input of an electric heater, meaning your energy consumption goes down, as well as your electricity bill.
This means that if you choose an infrared heater, only the areas in your home you need heated will be heated up. When you don’t heat up your whole house, your heating bill will become considerably lower. You also won’t have to preheat the room since infrared heat works right away. Some of these heaters only use 350 watts of power and almost all of the warmth created is sent out, leading to heating efficiency at an economical price.
Infrared heating can reduce your heating costs by 30-50%. Of course, how much you will save does depend on the construction of your home, ceiling height, insulation, and more.