Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

Keeping your Greensburg house comfortable can require a good amount of money. The average household spends about $172 on monthly energy costs, according to ENERGY STAR®, or about $2,060 annually. At least half of that goes to heating and cooling.

Many houses have programmable thermostats, but many people don’t take the trouble to use them properly. The process is annoying, involved and only provides you limited options for temperature settings. When your home stays at the same temp throughout the day, it consumes gas and electricity and adversely affects your monthly expenses.

Smart thermostats adjust to your routine and adjust the settings 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 Decrease on Heating and Cooling Bills

Independent studies have found these devices can produce big savings.

These studies used home energy costs in 41 states before and after putting in a Nest smart thermostat. Nest said the study found its thermostats can save up to 12% on heating and 15% on cooling, generating an estimated savings of $131 to $145 each year.

With the common smart thermostat costing 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 ready to go, you’ll initially use it just like your old thermostat. You’ll switch it up and down, so the thermostat can figure out your desired settings. Then, it will start developing a program that helps you conserve more money, whether you’re at home or away. As it geofences with your smartphone, you won’t have to remember to adjust it when you go or come back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we mentioned before, smart thermostats give lots of pluses to your house and utility bill, including:

  • No need to program—Your smart thermostat will adjust to your activities, so you don’t have to waste time adjusting programs or remember to turn it up or down.
  • Knows when you arrive and go—As a lot of smart thermostats geofence with your phone, your home will be put into an energy-efficient setting when you take off and be comfortable when you get back.
  • Remote temperature control—You’ll be able to see your house’s settings from virtually anywhere, on account of an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats offer in-depth data through their app, including how long you required heating and cooling on a certain day.
  • Reminders—Some smart thermostats will alert you to crucial maintenance tasks, such as when it’s time to replace your air filter.
  • Extra savings—The majority of local energy companies have rebates for smart thermostats, so call with yours for more information.

Cons

Having said that, there’s several things you should consider when thinking about 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 function with it. If you’re unsure, it’s best to ask an HVAC professional like Wallpe Heating & Cooling. We also advise having it professionally installed. This ensures that you have the correct number of wires and that it’s hooked up correctly. Some systems don’t have a common wire, which causes compatibility troubles with a smart thermostat. This wire energizes your thermostat, so if your house doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your residence and plan to be there for a long time, it’s a wise investment to get a smart thermostat. If you’re thinking about moving in the next year or rent, we advise waiting unless you want to take the thermostat with you. If you rent, you’ll usually need to have your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we advise having yours professionally installed. However, the energy savings over the years can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone regularly at the house? If so, you might not see as large of savings, but you’ll have the benefits of not needing to program or adjust a thermostat.

Trust Wallpe Heating & Cooling for Your Smart Thermostat Needs

At Wallpe Heating & Cooling, our top priority is to keep your house comfy while helping you spend less energy expenses. If you’re thinking about installing a smart thermostat, our pros can help, from selecting the best model to expert installation. Call us at 812-663-7252 today to learn more.