How Does a Smart Thermostat Save Money on Utility Expenses?

December 07, 2020

Keeping your Chatsworth home comfy can require a big chunk of change. The usual household spends about $172 on monthly energy costs, according to ENERGY STAR®, or approximately $2,060 annually. At least half of that goes to heating and cooling.

Most houses rely on programmable thermostats, but the majority of people don’t bother to set them. The process is time-consuming, complicated and only offers you limited options for desired temperatures. When your home is kept at an unchanging setting throughout the day, it consumes gas and electricity and badly influences your monthly bill.

Smart thermostats adjust to your day-to-day activities and adapt the settings to coordinate it. But can getting one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Heating and Cooling Expenses

Independent studies have found these devices can produce large savings.

These studies used home energy expenses in 41 states before and after putting in 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 estimated savings of $131 to $145 yearly.

With the common smart thermostat running between $100–$250, those savings can help it pay for itself. And the majority of local energy companies have rebates for smart thermostats as they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is installed, you’ll first set it just like any other thermostat. You’ll switch it up and down, so the thermostat can learn about your desired settings. Then, it will begin developing a program that helps you conserve more money, whether you’re at home or gone. Since it geofences with your smartphone, you won’t have to put it on your list to adjust it when you exit or come home.

Pros and Cons of Installing a Smart Thermostat

Pros

As we mentioned before, smart thermostats give a lot of benefits to your residence and utility costs, such as:

  • No need to program—Your smart thermostat will learn your routine, so you don’t have to waste time setting programs or remember to adjust it.
  • Knows when you get home and take off—Because a lot of smart thermostats geofence with your phone, your residence will be put into an energy-efficient setting when you take off and be comfortable when you return.
  • Remote temperature management—You’ll be able to watch your house’s temp from nearly anyplace, because of an app on your phone.
  • Supervise heating and cooling use—The majority of smart thermostats provide valuable data through their app, like how long you needed heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will remind you of essential maintenance tasks, like when you need to replace your air filter.
  • Extra savings—Most local energy companies have rebates for smart thermostats, so call with yours for more information.

Cons

However, there’s a few areas you should take into account when considering adding a smart thermostat in your home:

  • Compatibility—Depending 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 advisable to ask an HVAC pro like True Temp Heating & Air Inc. We also recommend having it professionally installed. This ensures that you have the right number of wires and that it’s hooked up correctly. Some systems don’t come with a common wire, which creates compatibility problems with a smart thermostat. This wire runs your thermostat, so if your house doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your home and are planning to live there for many years, it’s a good investment to have a smart thermostat. If you plan to move shortly or rent, we suggest holding back unless you plan to take the thermostat with you. If you rent, you’ll often need to get your landlord’s permission first ahead of putting in a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we suggest 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 that’s your situation, you might not see as many savings, but you’ll have the perks of not needing to program or adjust a thermostat.

Trust True Temp Heating & Air Inc for Your Smart Thermostat Needs

At True Temp Heating & Air Inc, our main goal is to keep your house pleasant while helping you spend less energy bills. If you’re wanting to install a smart thermostat, our pros can help, from choosing the ideal model to expert installation. Give us a call at 706-695-7492 today to learn more.