How Does a Smart Thermostat Save Money on Heating and Cooling Costs?

December 07, 2020

Keeping your Williamsport residence comfortable can consume a lot of money. A typical family spends about $172 on monthly heating and cooling expenses, according to ENERGY STAR®, or around $2,060 each year. At least half of that goes to heating and cooling.

Most homes have programmable thermostats, but most people don’t take the time to set them. The process is bothersome, involved and only gives you a couple of options for temperature changes. When your house is kept at an unchanging setting throughout the day, it consumes utilities and badly impacts your monthly expenses.

Smart thermostats learn from your routine and regulate the settings to match it. But can getting one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Energy Costs

Independent studies show these devices can produce large savings.

These studies included home energy bills in 41 states before and after adding a Nest smart thermostat. Nest said the study found its thermostats can save up to 12% on heating and 15% on cooling, generating an estimated savings of $131 to $145 each year.

With the common 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 initially program it just like your previous thermostat. You’ll set it up and down, so the thermostat can determine your preferences. Then, it will start developing a program that helps you conserve more money, whether you’re at your house or gone. 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 Getting a Smart Thermostat

Pros

As we talked about prior, smart thermostats give lots of pluses to your home and utility bill, such as:

  • No need to set—Your smart thermostat will pick up on your schedule, so you won’t be required to use up time adjusting programs or remember to change.
  • Knows when you arrive and leave—Because many smart thermostats geofence with your phone, your home will be put into an energy-efficient setting when you go and be comfortable when you arrive.
  • Remote temperature supervision—You’ll be able to keep an eye on your house’s settings from virtually any location, due to an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats give valuable data through their app, like how long you used heating and cooling on a certain day.
  • Reminders—Some smart thermostats will alert you to essential maintenance tasks, such as when it’s time to get a new air filter.
  • Added savings—Many local energy companies offer rebates for smart thermostats, so check with yours for details.

Cons

Having said that, there’s a few points you should contemplate regarding adding a smart thermostat in your residence:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re unsure, it’s best to contact an HVAC pro like George Home Services. We also suggest having it professionally installed. This guarantees that you have the correct number of wires and that it’s connected correctly. Some systems don’t come with a common wire, which results in compatibility troubles with a smart thermostat. This wire powers your thermostat, so if your house doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and plan to reside there for many years, it’s a smart investment to have a smart thermostat. If you plan to move soon or rent, we advise delaying unless you want to take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first before installing a new thermostat.
  • Cost—Smart thermostats cost more 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 regularly at the house? If so, you might not see as large of savings, but you’ll enjoy the convenience of not needing to program or adjust a thermostat.

Trust George Home Services for Your Smart Thermostat Needs

At George Home Services, our main goal is to keep your house cozy while helping you conserve more energy bills. If you’re considering installing a smart thermostat, our specialists can help, from picking the best model to expert installation. Contact us at 570-244-2510 today to learn more.