Will a Smart Thermostat Save Me Money on Energy Expenses?

December 07, 2020

Keeping your Paso Robles residence cozy can require a lot of money. A typical family spends about $172 on monthly heating and cooling costs, according to ENERGY STAR®, or around $2,060 annually. At least half of that is for heating and cooling.

The majority of residences rely on programmable thermostats, but the majority of people don’t take the trouble to program them. The process is time-consuming, complicated and only gives you a couple of options for temperature changes. When your home is kept at the same temperature throughout the day, it wastes utilities and badly impacts your monthly bill.

Smart thermostats learn from your routine and adapt 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 Reduce on Heating and Cooling Expenses

Independent studies have found these devices can produce big savings.

These studies used home heating and cooling bills 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 average savings of $131 to $145 each year.

With the typical smart thermostat costing between $100–$250, those savings can help it pay for itself. And most local energy companies offer rebates for smart thermostats because they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially program it just like any other thermostat. You’ll turn it up and down, so the thermostat can learn about your preferences. Then, it will get to work developing a program that helps you spend less money, whether you’re at home or out and about. Since it geofences with your smartphone, you won’t have to think about adjusting it when you go or get back.

Pros and Cons of Having a Smart Thermostat

Pros

As we talked about prior, smart thermostats offer lots of advantages to your house and heating and cooling bill, such as:

  • No need to set—Your smart thermostat will pick up on your activities, so you don’t have to waste time setting programs or remember to change.
  • Knows when you get home and go—As lots of smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you leave and be comfortable when you arrive.
  • Remote temperature supervision—You’ll be able to see your home’s temp from just about any location, because of an app on your phone.
  • Watch heating and cooling use—The majority of smart thermostats give detailed data through their app, including how long you used heating and cooling on a specific day.
  • Reminders—Some smart thermostats will let you know about critical maintenance tasks, like when you’re due to change your air filter.
  • Added savings—Many local energy companies have rebates for smart thermostats, so check with yours for more information.

Cons

In spite of that, there’s several areas you should contemplate when thinking about adding a smart thermostat in your home:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re not sure, it’s recommended to contact an HVAC pro like Paso Robles Heating and Air. We also suggest having it professionally installed. This confirms that you have the correct number of wires and that it’s linked properly. Some systems don’t have a common wire, which creates compatibility problems with a smart thermostat. This wire powers your thermostat, so if your residence doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your residence and want to live there for a long time, it’s a good 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 get your landlord’s permission first in advance of putting in a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we suggest 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 many savings, but you’ll enjoy the perks of not being required to program or adjust a thermostat.

Depend on Paso Robles Heating and Air for Your Smart Thermostat Needs

At Paso Robles Heating and Air, our top purpose is to keep your home comfy while helping you save on energy expenses. If you’re considering installing a smart thermostat, our specialists can help, from selecting the ideal model to expert installation. Contact us at 805-203-8667 today to learn more.