How Does a Smart Thermostat Save Money on Energy Expenses?

December 07, 2020

Keeping your Pocatello residence comfortable can consume a big chunk of change. A typical homeowner spends about $172 on monthly utility bills, according to ENERGY STAR®, or about $2,060 annually. At least half of that is for heating and cooling.

The majority of homes have programmable thermostats, but most people don’t take the trouble to set them. The process is bothersome, complicated and only offers you a couple of options for desired temperatures. When your residence is kept at the same temperature throughout the day, it wastes energy and badly affects your monthly bill.

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

Studies Show Smart Thermostats Decrease on Heating and Cooling Costs

Independent studies have found these devices can lead to major savings.

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

With the average smart thermostat costing between $100–$250, those savings can help it pay for itself. And the majority of 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 installed, you’ll first use it just like any other thermostat. You’ll set it up and down, so the thermostat can determine your wants. Then, it will begin creating a program that helps you spend less money, whether you’re at home or away. Since it geofences with your smartphone, you won’t have to think about adjusting it when you exit or get back.

Pros and Cons of Having a Smart Thermostat

Pros

As we covered previously, smart thermostats give many perks to your home and heating and cooling bill, like:

  • No need to set—Your smart thermostat will pick up on your activities, so you won’t need to spend 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 home will move into an energy-efficient setting when you leave and be comfortable when you return.
  • Remote temperature control—You’ll be able to see your residence’s temperature from nearly anywhere, on account of an app on your phone.
  • Watch heating and cooling use—The majority of smart thermostats provide in-depth data through their app, such as how long you required heating and cooling on a particular day.
  • Reminders—Select smart thermostats will remind you of critical maintenance tasks, including when you need to replace your air filter.
  • Added savings—The majority of local energy companies provide rebates for smart thermostats, so call with yours for more information.

Cons

Having said that, there’s several areas you should contemplate regarding adding a smart thermostat in your house:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re unsure, it’s best to ask an HVAC pro like Vogts Heating & Air. We also advise having it professionally installed. This ensures that you have the proper number of wires and that it’s connected properly. Some systems don’t have a common wire, which causes compatibility issues with a smart thermostat. This wire energizes your thermostat, so if your home doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and plan to be there for a long time, it’s a good investment to install a smart thermostat. If you’re planning to move in the next year or rent, we suggest holding back unless you want to take the thermostat with you. If you rent, you’ll usually need to have your landlord’s permission first ahead of adding a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we recommend 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 frequently at the house? If that’s your situation, you might not see as large of savings, but you’ll enjoy the benefits of not needing to program or adjust a thermostat.

Rely on Vogts Heating & Air for Your Smart Thermostat Needs

At Vogts Heating & Air, our number one goal is to keep your house comfy while helping you save on heating and cooling expenses. If you’re wanting to install a smart thermostat, our professionals can help, from picking the best model to expert installation. Contact us at 208-621-0129 today to learn more.