Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Bishop home comfortable can require a good amount of money. A typical family spends about $172 on monthly energy expenses, according to ENERGY STAR®, or around $2,060 yearly. At least half of that is for heating and cooling.

Many houses have programmable thermostats, but most people don’t take the trouble to program them. The process is bothersome, involved and only provides you a couple of options for desired temperatures. When your residence remains at an identical setting throughout the day, it wastes energy and adversely affects your monthly costs.

Smart thermostats pick up on your schedule and regulate the temperatures to coordinate it. But can getting one really conserve money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Heating and Cooling Expenses

Independent studies show these devices can lead to big savings.

These studies involved 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, resulting in an average 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 the majority of 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 at first use it just like your previous thermostat. You’ll set it up and down, so the thermostat can figure out your preferences. Then, it will start creating a program that helps you conserve more money, whether you’re at your residence or out and about. Since it geofences with your smartphone, you won’t have to think about adjusting it when you exit or get back.

Pros and Cons of Using a Smart Thermostat

Pros

As we covered previously, smart thermostats offer many advantages to your home and heating and cooling bill, including:

  • No need to adjust—Your smart thermostat will pick up on your schedule, so you won’t need to use up time adjusting programs or remember to adjust it.
  • Knows when you get home and leave—Since lots of smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you leave and be cozy when you get back.
  • Remote temperature supervision—You’ll be able to watch your residence’s settings from virtually anyplace, due to an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats provide great data through their app, like how long you used heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will alert you to critical maintenance tasks, like when you’re due to change your air filter.
  • Added savings—Many local energy companies provide rebates for smart thermostats, so check with yours for more information.

Cons

Having said that, there’s several areas you should contemplate regarding getting a smart thermostat in your home:

  • Compatibility—Depending 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 Bishop Heating & Air Conditioning. We also recommend having it professionally installed. This confirms that you have the proper number of wires and that it’s hooked up accurately. Some systems don’t have a common wire, which causes compatibility troubles with a smart thermostat. This wire energizes your thermostat, so if your residence doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your home and want to reside there for a long time, it’s a good investment to have a smart thermostat. If you plan to move in the next year or rent, we suggest holding back unless you want to take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first ahead of installing a new thermostat.
  • Cost—Smart thermostats are more expensive 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 often at the house? If so, you might not see as many savings, but you’ll have the perks of not being required to program or adjust a thermostat.

Rely on Bishop Heating & Air Conditioning for Your Smart Thermostat Needs

At Bishop Heating & Air Conditioning, our main purpose is to keep your residence cozy while helping you spend less energy bills. If you’re thinking about installing a smart thermostat, our professionals can help, from choosing the ideal model to expert installation. Give us a call at 760-784-9034 today to learn more.

Back To Blog