Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

Keeping your Mount Hope residence cozy can require a big chunk of change. The usual family spends about $172 on monthly heating and cooling costs, according to ENERGY STAR®, or about $2,060 each year. At least half of that goes to heating and cooling.

The majority of homes rely on programmable thermostats, but the majority of people don’t bother to program them. The process is bothersome, detailed and only offers you a couple of options for desired temperatures. When your residence is kept at an unchanging temperature throughout the day, it requires utilities and adversely influences your monthly bill.

Smart thermostats learn from your day-to-day activities and change the temperatures 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 Expenses

Independent studies have found these devices can produce big savings.

These studies involved home heating and cooling costs 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, resulting in an estimated savings of $131 to $145 each year.

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

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially set it just like your old thermostat. You’ll set it up and down, so the thermostat can determine your wants. Then, it will begin making a program that helps you conserve more money, whether you’re at home or away. Since it geofences with your smartphone, you won’t have to remember to adjust it when you leave or return.

Pros and Cons of Installing a Smart Thermostat

Pros

As we mentioned before, smart thermostats offer lots of pluses to your residence and energy expenses, such as:

  • No need to set—Your smart thermostat will pick up on your routine, so you won’t need to spend time setting programs or remember to turn it up or down.
  • Knows when you come and go—Since lots of smart thermostats geofence with your phone, your home will be put into an energy-efficient setting when you leave and be comfortable when you return.
  • Remote temperature supervision—You’ll be able to keep an eye on your home’s settings from nearly any location, on account of an app on your phone.
  • Supervise heating and cooling use—Most smart thermostats offer detailed data through their app, including how long you required heating and cooling on a particular day.
  • Reminders—Select smart thermostats will alert you to important maintenance tasks, such as when you’re due to replace your air filter.
  • Additional savings—Many local energy companies provide rebates for smart thermostats, so call with yours for more information.

Cons

Having said that, there’s several areas you should consider when considering adding a smart thermostat in your house:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not work. If you’re unsure, it’s best to check with an HVAC professional like Appalachian Heating. We also advise having it professionally installed. This confirms that you have the correct number of wires and that it’s connected right. Some systems don’t have a common wire, which creates compatibility issues with a smart thermostat. This wire energizes your thermostat, so if your home doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your home and want to be there for years, it’s a good investment to get a smart thermostat. If you’re planning to move soon or rent, we suggest waiting unless you want to take the thermostat with you. If you rent, you’ll typically need to have your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats cost more 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 that’s your situation, you might not see as many savings, but you’ll get the benefits of not being required to program or adjust a thermostat.

Rely on Appalachian Heating for Your Smart Thermostat Needs

At Appalachian Heating, our main purpose is to keep your house comfortable while helping you save on utility bills. If you’re considering installing a smart thermostat, our pros can help, from selecting the best model to expert installation. Give us a call at 304-707-0600 today to learn more.