Many uses for wood chips which include but not limited to mulch, composting material, fueling, walkway substrate, decor and erosion control.

• As a composting material:  Wood chips contain a great deal of carbon, and they're great for building up the soil. Just by using them as mulch, you'll be improving the condition of your soil — but you can also add them to your compost as a carbon or "brown" layer. They'll break down and enrich the dirt, making it that much more nutritious for the plants.
• As a fuel source used as fire starter for small controlled fires or even biomass reactors.
• Use as a walkway substrate they'll even out the ground and provide weed suppression in the garden and lawn areas.
• For erosion control, wood chips are a temporary fix, but they can address an area of the yard where erosion is occurring while you develop a long term plan. Use them to create a barrier to prevent soil loss, especially during heavy rains, while you talk to a landscaper about better drainage options to keep the yard in good condition.