Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Newton home comfy can require a good amount of money. The average homeowner spends about $172 on monthly heating and cooling costs, according to ENERGY STAR®, or about $2,060 each year. At least half of that is for heating and cooling.

Many residences rely on programmable thermostats, but most people don’t take the trouble to use them properly. The process is bothersome, detailed and only provides you a few options for temperature changes. When your house is kept at an identical temperature throughout the day, it consumes energy and badly impacts your monthly bill.

Smart thermostats adjust to your routine and change the temperatures to match it. But can using 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 determined these devices can produce major savings.

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

With the common smart thermostat priced between $100–$250, those savings can help it pay for itself. And many local energy companies have 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 use it just like your previous thermostat. You’ll switch it up and down, so the thermostat can determine your needs. Then, it will get to work making a program that helps you spend less money, whether you’re at home or gone. Because it geofences with your smartphone, you won’t have to think about adjusting it when you leave or come home.

Pros and Cons of Getting a Smart Thermostat

Pros

As we mentioned previously, smart thermostats provide many pluses to your home and energy bill, such as:

  • No need to set—Your smart thermostat will pick up on your activities, so you won’t need to spend time adjusting programs or remember to adjust it.
  • Knows when you arrive and take off—Because many smart thermostats geofence with your phone, your home will be put into an energy-efficient setting when you leave and be comfortable when you arrive.
  • Remote temperature control—You’ll be able to watch your residence’s temperature from nearly any location, because of an app on your phone.
  • Watch heating and cooling use—Most smart thermostats provide in-depth data through their app, like 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 you need to put in a new air filter.
  • Added savings—The majority of local energy companies have rebates for smart thermostats, so contact with yours for more information.

Cons

In spite of that, there’s several points you should take into account when considering 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 function with it. If you’re unsure, it’s advisable to ask an HVAC professional like Brookwood Inc. We also advise having it professionally installed. This confirms that you have the correct number of wires and that it’s linked correctly. Some systems don’t include a common wire, which leads to compatibility issues 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 want to be there for many years, it’s a smart investment to have a smart thermostat. If you’re thinking about moving in the next year or rent, we recommend waiting unless you plan to take the thermostat with you. If you rent, you’ll typically need to have your landlord’s permission first before getting a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we suggest 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 frequently at the house? If so, you might not see as many savings, but you’ll get the benefits of not needing to program or adjust a thermostat.

Rely on Brookwood Inc for Your Smart Thermostat Needs

At Brookwood Inc, our number one priority is to keep your home cozy while helping you conserve more utility costs. If you’re considering installing a smart thermostat, our pros can help, from choosing the best model to expert installation. Contact us at 641-316-9803 today to learn more.

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