Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Brandon residence comfortable can eat up a lot of money. A typical homeowner spends about $172 on monthly energy costs, according to ENERGY STAR®, or approximately $2,060 each year. At least half of that goes to heating and cooling.

Many homes rely on programmable thermostats, but many people don’t take the trouble to use them properly. The process is time-consuming, complicated and only offers you a few options for temperature settings. When your house stays at an unchanging temperature throughout the day, it wastes gas and electricity and adversely impacts your monthly bill.

Smart thermostats adjust to your schedule and regulate the settings to match it. But can installing one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Utility Bills

Independent studies show these devices can produce big savings.

These studies involved home utility costs in 41 states before and after adding a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, producing an estimated savings of $131 to $145 each year.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first use it just like any other thermostat. You’ll switch it up and down, so the thermostat can determine your needs. Then, it will get to work developing a program that helps you spend less money, whether you’re at your residence or out and about. As it geofences with your smartphone, you won’t have to remember to adjust it when you go or return.

Pros and Cons of Having a Smart Thermostat

Pros

As we mentioned prior, smart thermostats provide a lot of advantages to your residence and heating and cooling costs, like:

  • No need to set—Your smart thermostat will adjust to your routine, so you don’t have to use up time using programs or remember to change.
  • Knows when you come and go—As a lot of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you leave and be cozy when you get back.
  • Remote temperature control—You’ll be able to keep an eye on your residence’s temp from virtually anywhere, thanks to an app on your phone.
  • Monitor heating and cooling use—The majority of smart thermostats provide in-depth data through their app, like how long you used heating and cooling on a specific day.
  • Reminders—Certain smart thermostats will let you know about crucial maintenance tasks, such as when it’s time to replace your air filter.
  • Extra savings—The majority of local energy companies offer rebates for smart thermostats, so check with yours for more information.

Cons

However, there’s several things you should contemplate regarding adding a smart thermostat in your home:

  • 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 advisable to ask an HVAC professional like Brandon Heating and Plumbing. We also recommend having it professionally installed. This confirms that you have the correct number of wires and that it’s linked accurately. Some systems don’t include a common wire, which leads to compatibility problems with a smart thermostat. This wire runs 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 want to reside there for years, it’s a good investment to install a smart thermostat. If you plan to move shortly or rent, we suggest holding back unless you plan to take the thermostat with you. If you rent, you’ll often need to have your landlord’s permission first prior to installing a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we suggest 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 that’s your situation, you might not see as large of savings, but you’ll enjoy the convenience of not being required to program or adjust a thermostat.

Depend on Brandon Heating and Plumbing for Your Smart Thermostat Needs

At Brandon Heating and Plumbing, our top goal is to keep your residence comfortable while helping you conserve more utility bills. If you’re wanting to install a smart thermostat, our professionals can help, from picking the best model to expert installation. Call us at 204-728-0180 today to learn more.

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