Do Smart Thermostats Really Save Money on Energy?

December 07, 2020

Keeping your Rapid City home comfy can require a big chunk of change. The average homeowner spends about $172 on monthly utility costs, according to ENERGY STAR®, or about $2,060 yearly. At least half of that is consumed by heating and cooling.

Many residences use programmable thermostats, but most people don’t take the trouble to program them. The process is bothersome, complicated and only gives you a few options for desired temperatures. When your residence is kept at an identical temp throughout the day, it wastes utilities and badly influences your monthly costs.

Smart thermostats learn from your day-to-day activities and modify the temp 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 Costs

Independent studies have determined these devices can produce major savings.

These studies included home heating and cooling costs in 41 states before and after putting in a Nest smart thermostat. Nest said the study determined its thermostats can save up to 12% on heating and 15% on cooling, resulting in an approximated savings of $131 to $145 annually.

With the common smart thermostat priced 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 initially set it just like your old thermostat. You’ll switch it up and down, so the thermostat can determine your preferences. Then, it will get to work developing 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 leave or come back.

Pros and Cons of Installing a Smart Thermostat

Pros

As we talked about previously, smart thermostats offer a lot of perks to your residence and energy costs, including:

  • No need to set—Your smart thermostat will adjust to your routine, so you won’t be required to spend time using programs or remember to change.
  • Knows when you come and go—Since a lot of smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you go and be comfy when you arrive.
  • Remote temperature management—You’ll be able to see your residence’s temp from just about any location, 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, including how long you needed heating and cooling on a particular day.
  • Reminders—Select smart thermostats will let you know about critical maintenance tasks, like when it’s time to change your air filter.
  • Extra savings—Most local energy companies offer rebates for smart thermostats, so contact with yours for more info.

Cons

In spite of that, there’s a few things you should consider when thinking about adding a smart thermostat in your residence:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not work. If you’re not sure, it’s recommended to check with an HVAC specialist like Precision Mechanical. We also advise having it professionally installed. This confirms that you have the correct 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 residence doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and are planning to reside there for years, it’s a good investment to get a smart thermostat. If you plan to move soon or rent, we suggest delaying unless you plan to take the thermostat with you. If you rent, you’ll usually need to have your landlord’s permission first ahead of getting a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we advise 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 many savings, but you’ll enjoy the perks of not having to program or adjust a thermostat.

Depend on Precision Mechanical for Your Smart Thermostat Needs

At Precision Mechanical, our number one purpose is to keep your residence pleasant while helping you save on utility expenses. If you’re wanting to install a smart thermostat, our specialists can help, from selecting the ideal model to expert installation. Call us at 605-206-3766 today to learn more.