Will a Smart Thermostat Save Me Money on Energy Expenses?

December 07, 2020

Keeping your Circleville home comfortable can eat up a lot of money. A typical household spends about $172 on monthly heating and cooling bills, according to ENERGY STAR®, or about $2,060 each year. At least half of that is consumed by heating and cooling.

The majority of homes rely on programmable thermostats, but most people don’t bother to use them properly. The process is annoying, complicated and only gives you limited options for temperature settings. When your house remains at an unchanging temperature throughout the day, it wastes energy and badly influences your monthly bill.

Smart thermostats adjust to your day-to-day activities and adjust the settings to accompany it. But can installing one really conserve money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Utility Expenses

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

These studies included home energy costs 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 approximated savings of $131 to $145 annually.

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

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially program it just like your old thermostat. You’ll set it up and down, so the thermostat can figure out your wants. Then, it will get to work making a program that helps you spend less money, whether you’re at home or away. Because it geofences with your smartphone, you won’t have to remember to adjust it when you exit or return.

Pros and Cons of Installing a Smart Thermostat

Pros

As we talked about before, smart thermostats offer many pluses to your house and heating and cooling expenses, including:

  • No need to adjust—Your smart thermostat will learn your routine, so you don’t have to waste time using programs or remember to change.
  • Knows when you come and leave—Because a lot of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you go and be cozy when you arrive.
  • Remote temperature control—You’ll be able to see your residence’s settings from just about anyplace, on account of an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats give valuable data through their app, including how long you used heating and cooling on a particular day.
  • Reminders—Select smart thermostats will let you know about critical maintenance tasks, like when you need to replace your air filter.
  • Added savings—Many local energy companies have rebates for smart thermostats, so check with yours for more info.

Cons

However, there’s a couple of things you should consider when thinking about getting a smart thermostat in your home:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not work. If you don’t know, it’s best to check with an HVAC specialist like Stephen Hurst Pack Heating and Cooling, Inc. We also suggest having it professionally installed. This confirms that you have the correct number of wires and that it’s hooked up properly. Some systems don’t come with 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 put one in.
  • Housing situation—If you own your house and want to reside there for years, it’s a good investment to have a smart thermostat. If you’re thinking about moving soon or rent, we advise delaying unless you plan to take the thermostat with you. If you rent, you’ll usually need to secure your landlord’s permission first prior to adding a new thermostat.
  • Cost—Smart thermostats are pricier 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 often at the house? If so, you might not see as large of savings, but you’ll get the convenience of not being required to program or adjust a thermostat.

Trust Stephen Hurst Pack Heating and Cooling, Inc for Your Smart Thermostat Needs

At Stephen Hurst Pack Heating and Cooling, Inc, our main purpose is to keep your house comfortable while helping you spend less energy bills. If you’re thinking about installing a smart thermostat, our specialists can help, from choosing the right model to expert installation. Give us a call at 740-474-5940 today to learn more.