Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Savage house cozy can require a big chunk of change. The average homeowner spends about $172 on monthly utility bills, according to ENERGY STAR®, or around $2,060 each year. At least half of that is for heating and cooling.

Many residences use programmable thermostats, but many people don’t bother to set them. The process is annoying, involved and only provides you a few options for temperature settings. When your house stays at an unchanging setting throughout the day, it consumes energy and negatively influences your monthly bill.

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

Studies Show Smart Thermostats Save on Energy Costs

Independent studies show these devices can lead to large savings.

These studies included home utility 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, resulting in an estimated savings of $131 to $145 yearly.

With the common smart thermostat running between $100–$250, those savings can help it pay for itself. And most local energy companies provide 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 initially program it just like any other thermostat. You’ll turn it up and down, so the thermostat can determine your preferences. Then, it will start creating a program that helps you save money, whether you’re at home or gone. Because it geofences with your smartphone, you won’t have to remember to adjust it when you go or come home.

Pros and Cons of Using a Smart Thermostat

Pros

As we talked about before, smart thermostats give a lot of perks to your house and heating and cooling expenses, including:

  • No need to program—Your smart thermostat will adjust to your activities, so you won’t be required to use up time setting programs or remember to turn it up or down.
  • Knows when you come and leave—Since many smart thermostats geofence with your phone, your home will go into an energy-efficient setting when you go and be cozy when you arrive.
  • Remote temperature supervision—You’ll be able to keep an eye on your home’s settings from nearly anyplace, due to an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give detailed data through their app, including how long you required heating and cooling on a specific day.
  • Reminders—Certain smart thermostats will alert you to crucial maintenance tasks, such as when it’s time to get a new air filter.
  • Added savings—Many local energy companies offer rebates for smart thermostats, so contact with yours for more information.

Cons

In spite of that, there’s several 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 be compatible. If you don’t know, it’s advisable to contact an HVAC specialist like Gopher Heating and Air Conditioning. 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 include a common wire, which causes compatibility problems with a smart thermostat. This wire energizes your thermostat, so if your house doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and want to live there for a long time, it’s a wise investment to get a smart thermostat. If you’re planning to move shortly or rent, we recommend delaying unless you plan to take the thermostat with you. If you rent, you’ll usually need to get your landlord’s permission first ahead of putting in a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we advise having yours professionally installed. However, the energy savings over its lifetime can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone frequently at the house? If that’s the case, you might not see as big of savings, but you’ll enjoy the convenience of not needing to program or adjust a thermostat.

Depend on Gopher Heating and Air Conditioning for Your Smart Thermostat Needs

At Gopher Heating and Air Conditioning, our top purpose is to keep your house cozy while helping you save on utility expenses. If you’re wanting to install a smart thermostat, our pros can help, from picking the best model to expert installation. Call us at 952-373-0377 today to learn more.

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