Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Hickory home cozy can consume a lot of money. The average homeowner spends about $172 on monthly heating and cooling costs, according to ENERGY STAR®, or around $2,060 each year. At least half of that is for heating and cooling.

The majority of residences have programmable thermostats, but the majority of people don’t take the time to set them. The process is time-consuming, complicated and only provides you a few options for temperature settings. When your home is kept at the same temp throughout the day, it wastes gas and electricity and negatively affects your monthly expenses.

Smart thermostats learn from your schedule and change the temperatures to accompany it. But can having one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Heating and Cooling Bills

Independent studies show these devices can result in large savings.

These studies included home energy expenses 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, producing an approximated savings of $131 to $145 yearly.

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

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially program it just like your previous thermostat. You’ll turn it up and down, so the thermostat can learn about your preferences. Then, it will get to work creating a program that helps you save money, whether you’re at your residence or out and about. Because it geofences with your smartphone, you won’t have to remember to adjust it when you leave or come home.

Pros and Cons of Installing a Smart Thermostat

Pros

As we talked about before, smart thermostats give many benefits to your house and energy costs, like:

  • No need to adjust—Your smart thermostat will learn your activities, so you don’t have to spend time adjusting programs or remember to adjust it.
  • Knows when you come and take off—Since a lot of smart thermostats geofence with your phone, your home will move into an energy-efficient setting when you take off and be comfortable when you arrive.
  • Remote temperature control—You’ll be able to keep an eye on your residence’s temperature from virtually anyplace, due to an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give in-depth data through their app, like how long you used heating and cooling on a particular day.
  • Reminders—Some smart thermostats will remind you of critical maintenance tasks, such as when you’re due to change your air filter.
  • Added savings—Many local energy companies have rebates for smart thermostats, so contact with yours for more information.

Cons

In spite of that, there’s several things you should contemplate when thinking about getting a smart thermostat in your home:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re not sure, it’s best to contact an HVAC pro like Climate Control Systems. We also recommend having it professionally installed. This guarantees that you have the proper number of wires and that it’s connected accurately. Some systems don’t come with a common wire, which results in compatibility issues with a smart thermostat. This wire energizes your thermostat, so if your residence doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your home and plan to reside there for years, it’s a good investment to get a smart thermostat. If you plan to move in the next year or rent, we suggest holding back unless you plan to take the thermostat with you. If you rent, you’ll typically need to get your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we recommend 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 often at the house? If that’s your situation, you might not see as large of savings, but you’ll have the benefits of not needing to program or adjust a thermostat.

Rely on Climate Control Systems for Your Smart Thermostat Needs

At Climate Control Systems, our top purpose is to keep your house pleasant while helping you conserve more energy costs. If you’re thinking about installing a smart thermostat, our pros can help, from picking the right model to expert installation. Call us at 828-283-0369 today to learn more.

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