How a Smart Thermostat Can Help You Pay Less for Utilities

December 07, 2020

Keeping your Thedford residence cozy can eat up a good amount of money. The usual family spends about $172 on monthly energy costs, according to ENERGY STAR®, or approximately $2,060 yearly. At least half of that is consumed by heating and cooling.

Most homes use programmable thermostats, but the majority of people don’t take the time to set them. The process is bothersome, involved and only gives you a few options for desired temperatures. When your house remains at the same temp throughout the day, it consumes energy and adversely affects your monthly bill.

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

Studies Show Smart Thermostats Reduce on Energy Bills

Independent studies have found these devices can produce major savings.

These studies used home utility costs in 41 states before and after installing a Nest smart thermostat. Nest said the study determined 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 costing 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 at first use it just like your old thermostat. You’ll turn it up and down, so the thermostat can figure out your needs. Then, it will start creating a program that helps you conserve more money, whether you’re at home or gone. As it geofences with your smartphone, you won’t have to remember to adjust it when you leave or come home.

Pros and Cons of Using a Smart Thermostat

Pros

As we talked about before, smart thermostats give lots of advantages to your home and heating and cooling expenses, like:

  • No need to adjust—Your smart thermostat will learn your activities, so you won’t need to waste time setting programs or remember to change.
  • Knows when you arrive and go—As lots of smart thermostats geofence with your phone, your residence will go into an energy-efficient setting when you go and be cozy when you get back.
  • Remote temperature supervision—You’ll be able to keep an eye on your home’s temp from nearly anyplace, thanks to an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats give in-depth data through their app, like how long you needed heating and cooling on a certain day.
  • Reminders—Select smart thermostats will alert you to crucial maintenance tasks, including when you need to get a new air filter.
  • Added savings—Many local energy companies offer rebates for smart thermostats, so call with yours for more information.

Cons

However, there’s a couple of points you should contemplate when considering installing a smart thermostat in your residence:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not function with it. If you don’t know, it’s recommended to ask an HVAC specialist like Taylor's Heating & Air Conditioning. We also recommend having it professionally installed. This confirms that you have the right number of wires and that it’s hooked up right. Some systems don’t have a common wire, which creates compatibility troubles with a smart thermostat. This wire runs your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and are planning to reside there for years, it’s a smart investment to install a smart thermostat. If you plan to move soon or rent, we recommend waiting unless you will take the thermostat with you. If you rent, you’ll typically need to have your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats cost more 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 frequently at the house? If so, you might not see as large of savings, but you’ll enjoy the convenience of not being required to program or adjust a thermostat.

Rely on Taylor's Heating & Air Conditioning for Your Smart Thermostat Needs

At Taylor's Heating & Air Conditioning, our main goal is to keep your house pleasant while helping you conserve more heating and cooling bills. If you’re considering installing a smart thermostat, our professionals can help, from choosing the ideal model to expert installation. Call us at 519-296-4437 today to learn more.