Will a Smart Thermostat Save Me Money on Energy Expenses?

December 07, 2020

Keeping your Marshfield residence comfortable can require a good amount of money. The usual family spends about $172 on monthly utility expenses, according to ENERGY STAR®, or about $2,060 annually. At least half of that goes to heating and cooling.

Many homes use programmable thermostats, but many people don’t take the trouble to program them. The process is bothersome, complicated and only provides you a few options for temperature changes. When your home is kept at the same setting throughout the day, it consumes energy and badly affects your monthly bill.

Smart thermostats adjust to your schedule and regulate 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 Save on Energy Expenses

Independent studies have found these devices can result in large savings.

These studies included home heating and cooling expenses in 41 states before and after putting in a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, generating an estimated savings of $131 to $145 annually.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first set it just like your old thermostat. You’ll turn it up and down, so the thermostat can figure out your desired settings. Then, it will get to work developing a program that helps you conserve more money, whether you’re at your house or gone. As it geofences with your smartphone, you won’t have to remember to adjust it when you exit or get back.

Pros and Cons of Having a Smart Thermostat

Pros

As we covered previously, smart thermostats provide many advantages to your home and heating and cooling costs, such as:

  • No need to adjust—Your smart thermostat will pick up on your activities, so you don’t have to waste time setting programs or remember to turn it up or down.
  • Knows when you arrive and take off—Since lots of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you take off and be comfortable when you return.
  • Remote temperature supervision—You’ll be able to watch your house’s temp from virtually any location, due to an app on your phone.
  • Supervise heating and cooling use—The majority of smart thermostats give valuable data through their app, like how long you needed heating and cooling on a specific day.
  • Reminders—Some smart thermostats will alert you to essential maintenance tasks, including when you’re due to put in a new air filter.
  • Additional savings—Many local energy companies provide rebates for smart thermostats, so contact with yours for more information.

Cons

However, there’s a few points you should consider when thinking about installing a smart thermostat in your residence:

  • Compatibility—Depending 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 advisable to contact an HVAC professional like House of Heating Incorporated. We also recommend having it professionally installed. This guarantees that you have the proper number of wires and that it’s linked accurately. Some systems don’t include a common wire, which creates compatibility troubles with a smart thermostat. This wire powers your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and plan to reside there for a long time, it’s a smart investment to have a smart thermostat. If you’re thinking about moving shortly or rent, we recommend delaying unless you will take the thermostat with you. If you rent, you’ll often need to have your landlord’s permission first prior to 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 its lifetime 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 have the perks of not being required to program or adjust a thermostat.

Trust House of Heating Incorporated for Your Smart Thermostat Needs

At House of Heating Incorporated, our top priority is to keep your house cozy while helping you conserve more energy costs. If you’re wanting to install a smart thermostat, our pros can help, from picking the best model to expert installation. Call us at 715-384-3163 today to learn more.