Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Dresden house comfy can consume a lot of money. The average family spends about $172 on monthly heating and cooling bills, according to ENERGY STAR®, or approximately $2,060 each year. At least half of that goes to heating and cooling.

Many residences rely on programmable thermostats, but the majority of people don’t take the time to use them properly. The process is bothersome, complicated and only offers you limited options for temperature settings. When your house stays at an unchanging setting throughout the day, it consumes energy and adversely affects your monthly costs.

Smart thermostats learn from your schedule and adapt the settings to accompany it. But can having one really conserve money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Energy Costs

Independent studies show these devices can result in large savings.

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

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

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll initially use it just like your previous thermostat. You’ll switch it up and down, so the thermostat can determine your desired settings. Then, it will start developing a program that helps you conserve more money, whether you’re at your house or gone. Because it geofences with your smartphone, you won’t have to remember to adjust it when you go or come back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we talked about previously, smart thermostats give lots of pluses to your home and heating and cooling expenses, including:

  • No need to set—Your smart thermostat will adjust to your routine, 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 go—Because lots of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you leave and be comfy when you arrive.
  • Remote temperature management—You’ll be able to see your residence’s temperature from nearly any location, because of an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats offer valuable data through their app, like how long you required heating and cooling on a particular day.
  • Reminders—Some smart thermostats will let you know about essential maintenance tasks, like when it’s time to replace your air filter.
  • Additional savings—Many local energy companies have rebates for smart thermostats, so call with yours for more info.

Cons

In spite of that, there’s a couple of areas you should consider when thinking about installing 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 don’t know, it’s advisable to contact an HVAC pro like McFadden Heating & Cooling. We also recommend having it professionally installed. This ensures that you have the right number of wires and that it’s linked accurately. Some systems don’t come with a common wire, which causes compatibility issues with a smart thermostat. This wire energizes your thermostat, so if your home doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your home and want to live there for many years, it’s a smart investment to install 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 the years can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone often at the house? If that’s your situation, you might not see as large of savings, but you’ll enjoy the benefits of not having to program or adjust a thermostat.

Depend on McFadden Heating & Cooling for Your Smart Thermostat Needs

At McFadden Heating & Cooling, our number one goal is to keep your house comfy while helping you save on heating and cooling expenses. If you’re thinking about installing a smart thermostat, our specialists can help, from selecting the best model to expert installation. Call us at 1-866-781-0111 today to learn more.

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