How Does a Smart Thermostat Save Money on Energy Costs?

December 07, 2020

Keeping your Cape Coral residence comfy can consume a big chunk of change. A typical homeowner spends about $172 on monthly energy expenses, according to ENERGY STAR®, or about $2,060 each year. At least half of that is consumed by heating and cooling.

Many homes have programmable thermostats, but many people don’t bother to set them. The process is time-consuming, involved and only offers you limited options for temperature changes. When your home is kept at the same 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 change the temperatures to coordinate it. But can installing one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Save on Energy Bills

Independent studies show these devices can produce large savings.

These studies used home energy costs 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, generating an average savings of $131 to $145 each year.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first program it just like your old thermostat. You’ll set it up and down, so the thermostat can learn about your needs. Then, it will get to work making a program that helps you conserve more money, whether you’re at home or gone. As it geofences with your smartphone, you won’t have to think about adjusting it when you exit or get back.

Pros and Cons of Installing a Smart Thermostat

Pros

As we talked about prior, smart thermostats provide many perks to your house and heating and cooling bill, such as:

  • No need to set—Your smart thermostat will pick up on your schedule, so you don’t have to spend time using programs or remember to turn it up or down.
  • Knows when you come and leave—Since a lot of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you leave and be cozy when you return.
  • Remote temperature control—You’ll be able to keep an eye on your home’s temp from nearly anywhere, due to an app on your phone.
  • Supervise heating and cooling use—Many smart thermostats give in-depth data through their app, such as how long you used heating and cooling on a particular day.
  • Reminders—Select smart thermostats will let you know about essential maintenance tasks, such as when it’s time to replace your air filter.
  • Additional savings—Most local energy companies have rebates for smart thermostats, so call with yours for more information.

Cons

Having said that, there’s a few areas you should contemplate when thinking about installing 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 Comfort Zone Inc. We also advise having it professionally installed. This ensures that you have the correct number of wires and that it’s connected correctly. Some systems don’t have a common wire, which results in compatibility issues with a smart thermostat. This wire energizes your thermostat, so if your home doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your house and plan to be there for many years, it’s a good investment to get a smart thermostat. If you’re thinking about moving in the next year or rent, we suggest delaying unless you plan to take the thermostat with you. If you rent, you’ll usually need to get your landlord’s permission first ahead of adding a new thermostat.
  • Cost—Smart thermostats are more expensive 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 regularly at the house? If so, you might not see as big of savings, but you’ll enjoy the perks of not needing to program or adjust a thermostat.

Depend on Comfort Zone Inc for Your Smart Thermostat Needs

At Comfort Zone Inc, our number one goal is to keep your home comfortable while helping you save on energy costs. If you’re wanting to install a smart thermostat, our professionals can help, from selecting the right model to expert installation. Contact us at 239-214-0411 today to learn more.