Will a Smart Thermostat Save Me Money on Utility Bills?

December 07, 2020

Keeping your Cottonwood house comfortable can consume a lot of money. The usual household spends about $172 on monthly energy costs, according to ENERGY STAR®, or about $2,060 yearly. At least half of that goes to heating and cooling.

The majority of homes use programmable thermostats, but most people don’t bother to set them. The process is bothersome, involved and only provides you a couple of options for temperature settings. When your residence stays at an unchanging setting throughout the day, it requires utilities and badly influences your monthly costs.

Smart thermostats learn from your day-to-day activities and adjust the temp to accompany it. But can installing one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Utility Bills

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

These studies included home energy bills 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, generating an estimated savings of $131 to $145 yearly.

With the average smart thermostat priced between $100–$250, those savings can help it pay for itself. And most local energy companies provide 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 set it just like your previous thermostat. You’ll switch it up and down, so the thermostat can learn about your desired settings. Then, it will start making a program that helps you conserve more money, whether you’re at your house or out and about. As it geofences with your smartphone, you won’t have to put it on your list to adjust it when you exit or get back.

Pros and Cons of Installing a Smart Thermostat

Pros

As we mentioned previously, smart thermostats provide many advantages to your home and heating and cooling costs, like:

  • No need to program—Your smart thermostat will pick up on your activities, so you won’t need to use up time adjusting programs or remember to change.
  • Knows when you get home and take off—As lots of smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you leave and be cozy when you return.
  • Remote temperature control—You’ll be able to keep an eye on your home’s temperature from virtually any location, on account of an app on your phone.
  • Supervise heating and cooling use—Many smart thermostats give valuable data through their app, such as how long you required heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will let you know about essential maintenance tasks, like when you’re due to change your air filter.
  • Additional savings—Many local energy companies offer rebates for smart thermostats, so call with yours for details.

Cons

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

  • Compatibility—Depending 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 best to ask an HVAC professional like Connolly Electric & Mechanical. We also advise having it professionally installed. This guarantees that you have the proper number of wires and that it’s hooked up correctly. Some systems don’t have a common wire, which causes compatibility troubles with a smart thermostat. This wire powers 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 are planning to be there for a long time, it’s a good investment to get a smart thermostat. If you’re planning to move shortly or rent, we suggest delaying unless you plan to take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first prior to getting 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 regularly at the house? If that’s the case, 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 Connolly Electric & Mechanical for Your Smart Thermostat Needs

At Connolly Electric & Mechanical, our main purpose is to keep your house cozy while helping you spend less energy bills. If you’re considering installing a smart thermostat, our specialists can help, from choosing the right model to expert installation. Call us at 928-639-4251 today to learn more.