Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

Keeping your Alliance home comfortable can eat up a lot of money. A typical household spends about $172 on monthly energy bills, according to ENERGY STAR®, or about $2,060 yearly. At least half of that goes to heating and cooling.

The majority of residences rely on programmable thermostats, but many people don’t take the time to program them. The process is time-consuming, complicated and only offers you limited options for temperature settings. When your home remains at the same temp throughout the day, it wastes gas and electricity and negatively impacts your monthly expenses.

Smart thermostats adjust to your schedule and change the temp to coordinate it. But can having one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Energy Bills

Independent studies have determined these devices can lead to large savings.

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

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

How Does a Smart Thermostat Work?

After your smart thermostat is installed, you’ll initially use it just like any other thermostat. You’ll switch it up and down, so the thermostat can figure out your preferences. Then, it will get to work creating a program that helps you conserve more money, whether you’re at your house 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 come back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we mentioned previously, smart thermostats give a lot of perks to your house and utility bill, such as:

  • No need to set—Your smart thermostat will learn your routine, so you don’t have to use up time using programs or remember to change.
  • Knows when you come and go—Because lots of smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you leave and be comfy when you get back.
  • Remote temperature supervision—You’ll be able to see your residence’s temperature from nearly anyplace, thanks to an app on your phone.
  • Supervise heating and cooling use—Most smart thermostats give detailed data through their app, including how long you used heating and cooling on a certain day.
  • Reminders—Select smart thermostats will let you know about critical maintenance tasks, such as when it’s time to change your air filter.
  • Extra savings—The majority of local energy companies provide rebates for smart thermostats, so call with yours for details.

Cons

However, there’s a few things you should contemplate when thinking about getting a smart thermostat in your home:

  • Compatibility—Depending on the type and age of your heating and cooling system, a smart thermostat might not function with it. If you don’t know, it’s best to ask an HVAC professional like Jack's Heating, Cooling, Stoves & Fireplaces. We also recommend having it professionally installed. This confirms that you have the correct number of wires and that it’s linked accurately. Some systems don’t have a common wire, which causes compatibility problems with a smart thermostat. This wire powers your thermostat, so if your residence doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and plan to reside there for a long time, it’s a wise investment to install a smart thermostat. If you’re planning to move shortly or rent, we suggest waiting unless you will take the thermostat with you. If you rent, you’ll often need to get your landlord’s permission first before installing a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we recommend 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 regularly at the house? If that’s the case, you might not see as big of savings, but you’ll have the perks of not needing to program or adjust a thermostat.

Trust Jack's Heating, Cooling, Stoves & Fireplaces for Your Smart Thermostat Needs

At Jack's Heating, Cooling, Stoves & Fireplaces, our top goal is to keep your residence comfy while helping you save on energy costs. If you’re wanting to install a smart thermostat, our specialists can help, from choosing the best model to expert installation. Call us at 308-646-3827 today to learn more.