How Does a Smart Thermostat Save Money on Utility Expenses?

December 07, 2020

Keeping your Suffolk/Nassau County home comfy can eat up a lot of money. The usual household spends about $172 on monthly utility bills, according to ENERGY STAR®, or around $2,060 yearly. At least half of that is consumed by heating and cooling.

The majority of homes use programmable thermostats, but the majority of people don’t take the trouble to program them. The process is bothersome, complicated and only provides you a few options for temperature changes. When your house is kept at an unchanging setting throughout the day, it consumes utilities and adversely affects your monthly bill.

Smart thermostats pick up on your routine and adjust the settings to coordinate it. But can having one really conserve money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Heating and Cooling Bills

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

These studies involved home energy costs 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 yearly.

With the average smart thermostat priced between $100–$250, those savings can help it pay for itself. And many 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 ready to go, you’ll at first use it just like any other thermostat. You’ll set it up and down, so the thermostat can figure out your preferences. Then, it will start developing a program that helps you conserve more money, whether you’re at your residence or out and about. As it geofences with your smartphone, you won’t have to think about adjusting it when you leave or get back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we talked about prior, smart thermostats offer many advantages to your home and heating and cooling bill, including:

  • No need to program—Your smart thermostat will adjust to your activities, so you won’t be required to waste time using programs or remember to change.
  • Knows when you get home and take off—As lots of smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you go and be comfortable when you get back.
  • Remote temperature management—You’ll be able to watch your house’s temperature from virtually anywhere, due to an app on your phone.
  • Monitor heating and cooling use—The majority of smart thermostats give detailed data through their app, such as how long you required heating and cooling on a certain day.
  • Reminders—Select smart thermostats will let you know about crucial maintenance tasks, like when you’re due to get a new air filter.
  • Additional savings—Most local energy companies offer rebates for smart thermostats, so check with yours for details.

Cons

Having said that, there’s several points you should take into account when considering 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 advisable to check with an HVAC pro like Airmax Long Island Inc. We also suggest having it professionally installed. This guarantees that you have the proper number of wires and that it’s connected properly. Some systems don’t have a common wire, which creates compatibility problems with a smart thermostat. This wire energizes your thermostat, so if your residence doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your house and plan to reside there for a long time, it’s a good investment to have a smart thermostat. If you’re planning to move soon or rent, we recommend waiting unless you will 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 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 that’s your situation, you might not see as many savings, but you’ll get the benefits of not being required to program or adjust a thermostat.

Rely on Airmax Long Island Inc for Your Smart Thermostat Needs

At Airmax Long Island Inc, our main purpose is to keep your house cozy while helping you save on heating and cooling bills. If you’re considering installing a smart thermostat, our professionals can help, from selecting the best model to expert installation. Call us at 631-737-5566 today to learn more.