How Does a Smart Thermostat Save Money on Energy Costs?

December 07, 2020

Keeping your Norton house comfortable can consume a good amount of money. A typical homeowner spends about $172 on monthly energy expenses, according to ENERGY STAR®, or about $2,060 annually. At least half of that is for heating and cooling.

The majority of residences rely on programmable thermostats, but the majority of people don’t bother to program them. The process is bothersome, complicated and only provides you limited options for temperature settings. When your home remains at an identical temperature throughout the day, it consumes gas and electricity and negatively influences your monthly costs.

Smart thermostats adjust to your day-to-day activities and change the temp to accompany it. But can getting one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Save on Utility Bills

Independent studies show these devices can lead to big savings.

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

With the common smart thermostat running between $100–$250, those savings can help it pay for itself. And most 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 at first set it just like any other thermostat. You’ll switch it up and down, so the thermostat can learn about your preferences. Then, it will start creating a program that helps you spend less money, whether you’re at your house or away. Since 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 Using a Smart Thermostat

Pros

As we talked about before, smart thermostats give lots of advantages to your house and utility bill, including:

  • No need to adjust—Your smart thermostat will pick up on your routine, so you won’t need to use up time adjusting programs or remember to change.
  • Knows when you arrive and leave—Since many smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you go and be comfortable when you arrive.
  • Remote temperature control—You’ll be able to watch your house’s temperature from virtually anyplace, thanks to an app on your phone.
  • Watch heating and cooling use—The majority of smart thermostats give in-depth data through their app, including how long you used heating and cooling on a certain day.
  • Reminders—Certain smart thermostats will alert you to crucial maintenance tasks, including when you need to replace your air filter.
  • Added savings—Many local energy companies have rebates for smart thermostats, so check with yours for details.

Cons

In spite of that, there’s a couple of areas you should contemplate when thinking about adding a smart thermostat in your home:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not work. If you’re not sure, it’s best to ask an HVAC specialist like HCE Systems Inc. We also recommend having it professionally installed. This confirms that you have the right number of wires and that it’s hooked up correctly. Some systems don’t have a common wire, which creates compatibility issues with a smart thermostat. This wire powers your thermostat, so if your house doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your house and plan to reside there for years, it’s a wise investment to get a smart thermostat. If you’re thinking about moving soon or rent, we suggest waiting unless you will take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first ahead of installing a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we suggest having yours professionally installed. However, the energy savings over its lifetime 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 many savings, but you’ll enjoy the perks of not having to program or adjust a thermostat.

Rely on HCE Systems Inc for Your Smart Thermostat Needs

At HCE Systems Inc, our number one goal is to keep your home cozy while helping you spend less heating and cooling costs. If you’re wanting to install a smart thermostat, our specialists can help, from choosing the right model to expert installation. Call us at 276-302-0076 today to learn more.