Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

Keeping your Stuart house cozy can consume a lot of money. The usual homeowner spends about $172 on monthly energy costs, according to ENERGY STAR®, or approximately $2,060 annually. At least half of that is consumed by heating and cooling.

Most homes rely on programmable thermostats, but most people don’t take the trouble to program them. The process is time-consuming, involved and only provides you limited options for temperature changes. When your residence remains at an unchanging temperature throughout the day, it consumes energy and negatively impacts your monthly bill.

Smart thermostats adjust to your schedule and adapt the settings to match it. But can using one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Heating and Cooling Costs

Independent studies show these devices can result in large savings.

These studies used home heating and cooling expenses in 41 states before and after installing a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, producing an average savings of $131 to $145 yearly.

With the common smart thermostat priced between $100–$250, those savings can help it pay for itself. And many local energy companies provide rebates for smart thermostats because they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially set it just like any other thermostat. You’ll turn it up and down, so the thermostat can learn about your desired settings. Then, it will get to work developing a program that helps you spend less money, whether you’re at home or gone. Because it geofences with your smartphone, you won’t have to put it on your list to adjust it when you leave or get back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we talked about previously, smart thermostats provide a lot of advantages to your house and heating and cooling bill, including:

  • No need to program—Your smart thermostat will adjust to your schedule, so you don’t have to waste time setting programs or remember to change.
  • Knows when you come and leave—Since lots of smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you take off and be cozy when you get back.
  • Remote temperature management—You’ll be able to keep an eye on your home’s temperature from nearly anywhere, because of an app on your phone.
  • Monitor heating and cooling use—Most smart thermostats offer great data through their app, like how long you needed heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will alert you to crucial maintenance tasks, such as when you’re due to replace your air filter.
  • Extra savings—The majority of local energy companies have rebates for smart thermostats, so check with yours for more information.

Cons

Having said that, there’s a couple of areas you should contemplate when considering installing a smart thermostat in your home:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re not sure, it’s best to ask an HVAC pro like Breathe Healthier Air. We also recommend having it professionally installed. This guarantees that you have the proper number of wires and that it’s linked properly. Some systems don’t have a common wire, which results in compatibility issues with a smart thermostat. This wire runs your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your home and are planning to be there for a long time, it’s a good investment to install a smart thermostat. If you plan to move soon or rent, we recommend waiting unless you want to take the thermostat with you. If you rent, you’ll typically need to secure your landlord’s permission first in advance of putting in a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we advise having yours professionally installed. However, the energy savings over time can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone frequently at the house? If so, you might not see as big of savings, but you’ll have the benefits of not having to program or adjust a thermostat.

Depend on Breathe Healthier Air for Your Smart Thermostat Needs

At Breathe Healthier Air, our number one goal is to keep your house comfortable while helping you spend less energy bills. If you’re thinking about installing a smart thermostat, our professionals can help, from picking the best model to expert installation. Contact us at 772-600-7151 today to learn more.