Will a Smart Thermostat Save Me Money on Utility Expenses?

December 07, 2020

Keeping your Saint Petersburg house comfortable can eat up a good amount of money. The usual homeowner spends about $172 on monthly utility costs, according to ENERGY STAR®, or around $2,060 annually. At least half of that goes to heating and cooling.

Many houses use programmable thermostats, but most people don’t bother to program them. The process is time-consuming, complicated and only offers you a couple of options for temperature changes. When your residence stays at an identical setting throughout the day, it consumes energy and negatively affects your monthly costs.

Smart thermostats adjust to your schedule and modify 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 Save on Utility Expenses

Independent studies show these devices can result in large savings.

These studies involved home energy expenses 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, generating an estimated savings of $131 to $145 each year.

With the average smart thermostat running 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 put in, you’ll initially program it just like any other thermostat. You’ll turn it up and down, so the thermostat can determine your wants. Then, it will get to work developing a program that helps you spend less money, whether you’re at your residence or out and about. Since it geofences with your smartphone, you won’t have to remember to adjust it when you leave or come home.

Pros and Cons of Having a Smart Thermostat

Pros

As we mentioned previously, smart thermostats offer lots of perks to your house and utility expenses, like:

  • No need to program—Your smart thermostat will adjust to your activities, so you don’t have to waste time using programs or remember to change.
  • Knows when you come and go—Since a lot of smart thermostats geofence with your phone, your house will move into an energy-efficient setting when you take off and be comfy when you arrive.
  • Remote temperature supervision—You’ll be able to see your home’s settings from virtually anywhere, because of an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give in-depth data through their app, including how long you required heating and cooling on a specific day.
  • Reminders—Some smart thermostats will alert you to critical maintenance tasks, such as when it’s time to put in a new air filter.
  • Extra savings—Many local energy companies offer rebates for smart thermostats, so call with yours for more information.

Cons

However, there’s a few areas you should consider when thinking about getting a smart thermostat in your home:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you don’t know, it’s recommended to ask an HVAC specialist like Hale's Air Conditioning Services Inc. We also suggest having it professionally installed. This ensures that you have the right number of wires and that it’s linked properly. Some systems don’t have a common wire, which creates compatibility issues with a smart thermostat. This wire powers your thermostat, so if your house doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your home and plan to be there for years, it’s a good investment to install a smart thermostat. If you’re thinking about moving soon or rent, we advise waiting unless you will take the thermostat with you. If you rent, you’ll often need to get your landlord’s permission first ahead of putting in a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we suggest 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 that’s your situation, you might not see as large of savings, but you’ll have the perks of not having to program or adjust a thermostat.

Trust Hale's Air Conditioning Services Inc for Your Smart Thermostat Needs

At Hale's Air Conditioning Services Inc, our number one purpose is to keep your home cozy while helping you conserve more energy expenses. If you’re wanting to install a smart thermostat, our pros can help, from selecting the right model to expert installation. Call us at 727-369-6195 today to learn more.