Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

Keeping your Jefferson City house cozy can consume a good amount of money. A typical household spends about $172 on monthly energy costs, according to ENERGY STAR®, or around $2,060 annually. At least half of that goes to heating and cooling.

The majority of residences have programmable thermostats, but the majority of people don’t take the trouble to use them properly. The process is time-consuming, detailed and only gives you a few options for temperature settings. When your home is kept at the same temperature throughout the day, it wastes utilities and badly influences your monthly expenses.

Smart thermostats pick up on your schedule and adjust the temp to coordinate it. But can having one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Energy Bills

Independent studies have found these devices can produce large savings.

These studies included home utility bills in 41 states before and after adding a Nest smart thermostat. Nest said the study found its thermostats can save up to 12% on heating and 15% on cooling, producing an approximated savings of $131 to $145 annually.

With the average smart thermostat running between $100–$250, those savings can help it pay for itself. And most 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 ready to go, you’ll initially set it just like your old thermostat. You’ll turn it up and down, so the thermostat can determine your preferences. Then, it will start developing a program that helps you spend less money, whether you’re at your house or gone. Because it geofences with your smartphone, you won’t have to put it on your list to adjust it when you go or return.

Pros and Cons of Using a Smart Thermostat

Pros

As we covered before, smart thermostats provide many pluses to your residence and heating and cooling bill, including:

  • No need to set—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 take off—Because lots of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you take off and be comfy when you get back.
  • Remote temperature supervision—You’ll be able to watch your residence’s temperature from nearly anywhere, thanks to an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats give detailed data through their app, like how long you needed heating and cooling on a certain day.
  • Reminders—Select smart thermostats will alert you to essential maintenance tasks, such as when you’re due to put in a new air filter.
  • Additional savings—Many local energy companies offer rebates for smart thermostats, so call with yours for details.

Cons

In spite of that, there’s a couple of areas you should consider when thinking about adding a smart thermostat in your residence:

  • Compatibility—Subject to 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 contact an HVAC professional like Stieferman Heating Company Inc. We also recommend having it professionally installed. This ensures that you have the right number of wires and that it’s hooked up properly. Some systems don’t have a common wire, which causes compatibility issues with a smart thermostat. This wire powers your thermostat, so if your residence doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and are planning to live there for a long time, it’s a wise investment to get a smart thermostat. If you plan to move in the next year or rent, we suggest waiting unless you will take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first ahead of installing 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 frequently at the house? If so, you might not see as many savings, but you’ll have the convenience of not having to program or adjust a thermostat.

Rely on Stieferman Heating Company Inc for Your Smart Thermostat Needs

At Stieferman Heating Company Inc, our main priority is to keep your home pleasant while helping you conserve more heating and cooling bills. If you’re wanting to install a smart thermostat, our specialists can help, from choosing the best model to expert installation. Call us at 573-203-3908 today to learn more.