How a Smart Thermostat Can Help You Spend Less on Utilities

December 07, 2020

Keeping your Westerville residence comfy can consume a good amount of money. A typical 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.

Most houses rely on programmable thermostats, but the majority of people don’t take the time to use them properly. The process is time-consuming, detailed and only provides you a couple of options for temperature settings. When your residence remains at an unchanging temp throughout the day, it requires utilities and negatively affects your monthly costs.

Smart thermostats learn from your schedule and modify 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 Utility Costs

Independent studies have determined these devices can result in major savings.

These studies used home energy costs in 41 states before and after putting in a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, producing an approximated savings of $131 to $145 annually.

With the typical smart thermostat running between $100–$250, those savings can help it pay for itself. And most local energy companies offer 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 set it just like any other thermostat. You’ll switch it up and down, so the thermostat can learn about your needs. Then, it will start making a program that helps you spend less money, whether you’re at home or gone. Because it geofences with your smartphone, you won’t have to think about adjusting it when you go or return.

Pros and Cons of Installing a Smart Thermostat

Pros

As we covered previously, smart thermostats give a lot of advantages to your home and utility costs, like:

  • No need to program—Your smart thermostat will pick up on your routine, so you won’t be required to spend time setting programs or remember to turn it up or down.
  • Knows when you come and take off—As many 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 control—You’ll be able to watch your home’s settings from just about any location, thanks to an app on your phone.
  • Monitor heating and cooling use—Most smart thermostats provide valuable data through their app, including how long you required heating and cooling on a specific day.
  • Reminders—Select smart thermostats will alert you to essential maintenance tasks, such as when you need to put in a new air filter.
  • Extra savings—Many local energy companies have rebates for smart thermostats, so call with yours for more information.

Cons

In spite of that, there’s a couple of points you should contemplate when considering adding a smart thermostat in your residence:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re unsure, it’s best to check with an HVAC specialist like Uptown Heating & Cooling. We also advise having it professionally installed. This guarantees that you have the correct number of wires and that it’s connected right. Some systems don’t come with a common wire, which creates compatibility problems with a smart thermostat. This wire energizes your thermostat, so if your house doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and are planning to reside there for years, it’s a smart investment to get a smart thermostat. If you plan to move soon or rent, we recommend holding back unless you want to take the thermostat with you. If you rent, you’ll typically need to secure your landlord’s permission first prior to adding a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we advise 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 frequently at the house? If so, you might not see as many savings, but you’ll enjoy the perks of not needing to program or adjust a thermostat.

Trust Uptown Heating & Cooling for Your Smart Thermostat Needs

At Uptown Heating & Cooling, our top purpose is to keep your residence cozy while helping you conserve more heating and cooling expenses. If you’re thinking about installing a smart thermostat, our specialists can help, from choosing the best model to expert installation. Contact us at 614-344-6949 today to learn more.