Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

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

Most residences have programmable thermostats, but many people don’t take the trouble to use them properly. The process is time-consuming, involved and only provides you limited options for temperature changes. When your residence stays at an identical setting throughout the day, it requires energy and adversely impacts your monthly costs.

Smart thermostats pick up on your day-to-day activities and adjust the temperatures to coordinate it. But can installing one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Heating and Cooling Expenses

Independent studies have determined these devices can lead to big savings.

These studies included home energy expenses 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 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 the majority of local energy companies offer rebates for smart thermostats as they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is installed, you’ll at first program it just like your previous thermostat. You’ll set it up and down, so the thermostat can figure out your needs. Then, it will get to work developing a program that helps you save money, whether you’re at your house or gone. Because it geofences with your smartphone, you won’t have to think about adjusting it when you go or come back.

Pros and Cons of Having a Smart Thermostat

Pros

As we covered previously, smart thermostats provide a lot of benefits to your residence and utility costs, like:

  • No need to adjust—Your smart thermostat will adjust to your schedule, so you don’t have to use up time using programs or remember to turn it up or down.
  • Knows when you arrive and take off—As a lot of smart thermostats geofence with your phone, your home will move into an energy-efficient setting when you leave and be cozy when you get back.
  • Remote temperature supervision—You’ll be able to keep an eye on your house’s temperature from nearly any location, on account of an app on your phone.
  • Supervise heating and cooling use—The majority of smart thermostats offer valuable data through their app, such as how long you needed heating and cooling on a particular day.
  • Reminders—Select smart thermostats will remind you of essential maintenance tasks, like when you’re due to change your air filter.
  • Additional savings—Most local energy companies provide rebates for smart thermostats, so call with yours for more info.

Cons

However, there’s several points you should contemplate regarding installing 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 recommended to contact an HVAC professional like Cool Power LLC . We also recommend having it professionally installed. This confirms that you have the right number of wires and that it’s hooked up accurately. Some systems don’t include a common wire, which leads to compatibility issues with a smart thermostat. This wire powers your thermostat, so if your residence doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your residence and want to be there for many years, it’s a smart investment to install a smart thermostat. If you’re thinking about moving shortly or rent, we suggest waiting unless you want to take the thermostat with you. If you rent, you’ll usually need to secure your landlord’s permission first in advance of putting in a new thermostat.
  • Cost—Smart thermostats are more expensive 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 that’s the case, you might not see as large of savings, but you’ll enjoy the benefits of not needing to program or adjust a thermostat.

Depend on Cool Power LLC for Your Smart Thermostat Needs

At Cool Power LLC , our top goal is to keep your home comfortable while helping you conserve more utility expenses. If you’re considering installing a smart thermostat, our pros can help, from picking the best model to expert installation. Contact us at 631-246-4029 today to learn more.

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