Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Williamsport home cozy can consume a good amount of money. The usual household spends about $172 on monthly energy bills, according to ENERGY STAR®, or around $2,060 yearly. At least half of that is for heating and cooling.

Most homes use programmable thermostats, but many people don’t bother to set them. The process is annoying, involved and only gives you limited options for desired temperatures. When your home remains at an identical setting throughout the day, it consumes gas and electricity and badly affects your monthly bill.

Smart thermostats pick up on your day-to-day activities and change the settings to accompany it. But can getting one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Save on Heating and Cooling Expenses

Independent studies show these devices can produce big savings.

These studies used home heating and cooling bills in 41 states before and after putting in a Nest smart thermostat. Nest said the study determined its thermostats can save up to 12% on heating and 15% on cooling, resulting in an estimated savings of $131 to $145 yearly.

With the common smart thermostat costing between $100–$250, those savings can help it pay for itself. And many 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 at first 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 begin making a program that helps you conserve more 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 Getting a Smart Thermostat

Pros

As we mentioned previously, smart thermostats give many benefits to your home and utility bill, such as:

  • No need to adjust—Your smart thermostat will adjust to your activities, so you don’t have to waste time using programs or remember to adjust it.
  • Knows when you arrive and leave—Since many smart thermostats geofence with your phone, your home will be put into an energy-efficient setting when you take off and be cozy when you get back.
  • Remote temperature control—You’ll be able to watch your residence’s temperature from just about anyplace, on account of an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats provide valuable data through their app, including how long you needed heating and cooling on a certain day.
  • Reminders—Some smart thermostats will remind you of critical maintenance tasks, like when you’re due to change your 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 a couple of things you should take into account when considering getting a smart thermostat in your home:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not work. If you’re unsure, it’s recommended to check with an HVAC pro like Lycoming Heating Company. We also suggest having it professionally installed. This guarantees that you have the right number of wires and that it’s connected properly. Some systems don’t have a common wire, which leads to compatibility issues with a smart thermostat. This wire powers your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your home and want to be there for a long time, it’s a wise investment to install a smart thermostat. If you plan to move shortly or rent, we recommend delaying unless you will take the thermostat with you. If you rent, you’ll usually need to have your landlord’s permission first in advance of adding a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we recommend 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 the case, you might not see as large of savings, but you’ll enjoy the perks of not being required to program or adjust a thermostat.

Trust Lycoming Heating Company for Your Smart Thermostat Needs

At Lycoming Heating Company, our top priority is to keep your home comfortable while helping you conserve more energy expenses. If you’re considering installing a smart thermostat, our pros can help, from selecting the right model to expert installation. Give us a call at 570-244-2510 today to learn more.

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