Do Smart Thermostats Really Save Money on Utilities?

December 07, 2020

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

Most residences rely on programmable thermostats, but many people don’t bother to program them. The process is time-consuming, involved and only offers you limited options for temperature changes. When your residence remains at the same temp throughout the day, it wastes utilities and negatively influences your monthly expenses.

Smart thermostats pick up on your day-to-day activities and change the temperatures to accompany it. But can installing one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Energy Expenses

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

These studies used home energy bills 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, producing an estimated 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 offer rebates for smart thermostats because they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first program it just like any other thermostat. You’ll switch it up and down, so the thermostat can determine your wants. Then, it will start creating a program that helps you save money, whether you’re at your residence or gone. Because it geofences with your smartphone, you won’t have to think about adjusting it when you go or get back.

Pros and Cons of Using a Smart Thermostat

Pros

As we covered previously, smart thermostats give lots of advantages to your residence and heating and cooling bill, such as:

  • No need to adjust—Your smart thermostat will learn your activities, so you won’t need to use up time using programs or remember to change.
  • Knows when you arrive and take off—Since many smart thermostats geofence with your phone, your residence will go into an energy-efficient setting when you take off and be cozy when you arrive.
  • Remote temperature management—You’ll be able to keep an eye on your house’s temperature from nearly anywhere, because of an app on your phone.
  • Supervise heating and cooling use—Most smart thermostats provide valuable data through their app, including how long you used heating and cooling on a certain day.
  • Reminders—Certain smart thermostats will remind you of important maintenance tasks, like when you’re due to get a new air filter.
  • Extra savings—Most local energy companies have rebates for smart thermostats, so call with yours for more info.

Cons

However, there’s several areas you should take into account 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 be compatible. If you’re not sure, it’s recommended to ask an HVAC pro like Goode Bros AC & Heating. We also advise having it professionally installed. This ensures that you have the right number of wires and that it’s connected right. Some systems don’t have a common wire, which leads to compatibility problems with a smart thermostat. This wire powers your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your residence and plan to reside there for many years, it’s a wise investment to get a smart thermostat. If you’re thinking about moving 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 have your landlord’s permission first in advance of putting in a new thermostat.
  • Cost—Smart thermostats cost more 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 often at the house? If that’s the case, you might not see as big of savings, but you’ll have the perks of not having to program or adjust a thermostat.

Rely on Goode Bros AC & Heating for Your Smart Thermostat Needs

At Goode Bros AC & Heating, our top priority is to keep your house cozy while helping you save on heating and cooling bills. If you’re considering installing a smart thermostat, our professionals can help, from choosing the ideal model to expert installation. Give us a call at (833)-466-3322 today to learn more.