Will a Smart Thermostat Save Me Money on Utility Costs?

December 07, 2020

Keeping your Derby home cozy can consume a lot of money. A typical family spends about $172 on monthly energy bills, according to ENERGY STAR®, or approximately $2,060 annually. At least half of that goes to heating and cooling.

Many houses use programmable thermostats, but most people don’t bother to set them. The process is time-consuming, complicated and only provides you a couple of options for desired temperatures. When your house is kept at an unchanging setting throughout the day, it wastes gas and electricity and badly influences your monthly expenses.

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

Studies Show Smart Thermostats Decrease on Energy Bills

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

These studies used home energy expenses 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 average savings of $131 to $145 annually.

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 as they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll initially use it just like your old thermostat. You’ll set it up and down, so the thermostat can learn about your desired settings. Then, it will begin developing a program that helps you save money, whether you’re at your house or away. Since it geofences with your smartphone, you won’t have to remember to adjust it when you go or return.

Pros and Cons of Using a Smart Thermostat

Pros

As we talked about prior, smart thermostats provide lots of advantages to your home and utility expenses, such as:

  • No need to program—Your smart thermostat will pick up on your activities, so you won’t be required to spend time using programs or remember to turn it up or down.
  • Knows when you get home and leave—Since many smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you leave and be comfy when you arrive.
  • Remote temperature management—You’ll be able to watch your house’s temp from nearly anywhere, due to an app on your phone.
  • Supervise heating and cooling use—Most smart thermostats give valuable data through their app, including how long you required heating and cooling on a specific day.
  • Reminders—Some smart thermostats will let you know about crucial maintenance tasks, including when it’s time to change your air filter.
  • Extra savings—Many local energy companies offer rebates for smart thermostats, so check with yours for more information.

Cons

However, there’s a few points you should take into account when thinking about getting a smart thermostat in your residence:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not function with it. If you don’t know, it’s best to check with an HVAC specialist like Giordanos Heating and Air Conditioning. We also advise having it professionally installed. This confirms that you have the proper number of wires and that it’s hooked up right. Some systems don’t have a common wire, which causes compatibility problems with a smart thermostat. This wire runs your thermostat, so if your house doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your house and want to reside there for a long time, it’s a wise investment to get a smart thermostat. If you’re thinking about moving soon or rent, we recommend delaying unless you plan to take the thermostat with you. If you rent, you’ll usually need to get your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we advise having yours professionally installed. However, the energy savings over time 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 large of savings, but you’ll have the benefits of not being required to program or adjust a thermostat.

Rely on Giordanos Heating and Air Conditioning for Your Smart Thermostat Needs

At Giordanos Heating and Air Conditioning, our number one priority is to keep your house pleasant while helping you conserve more heating and cooling expenses. If you’re wanting to install a smart thermostat, our specialists can help, from picking the ideal model to expert installation. Call us at 203-772-8319 today to learn more.