Will a Smart Thermostat Save Me Money on Energy Expenses?

December 07, 2020

Keeping your Mechanicsville home comfortable can require a good amount of money. The usual homeowner spends about $172 on monthly energy expenses, according to ENERGY STAR®, or about $2,060 yearly. At least half of that goes to heating and cooling.

Most houses use programmable thermostats, but the majority of people don’t take the trouble to use them properly. The process is bothersome, involved and only gives you a few options for desired temperatures. When your home is kept at the same temp throughout the day, it wastes utilities and negatively impacts your monthly expenses.

Smart thermostats learn from your routine and adapt the settings to coordinate it. But can using one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Heating and Cooling Expenses

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

These studies involved home utility expenses in 41 states before and after installing a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, resulting in 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 since they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is installed, you’ll at first set it just like any other thermostat. You’ll turn it up and down, so the thermostat can learn about your desired settings. Then, it will get to work creating a program that helps you save money, whether you’re at your house or out and about. Since it geofences with your smartphone, you won’t have to remember to adjust it when you leave or come back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we talked about prior, smart thermostats give a lot of advantages to your residence and energy costs, such as:

  • No need to program—Your smart thermostat will adjust to your routine, so you won’t be required to spend time adjusting programs or remember to turn it up or down.
  • Knows when you get home and leave—Since many smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you leave and be comfy when you arrive.
  • Remote temperature supervision—You’ll be able to watch your house’s temp from virtually any location, because of an app on your phone.
  • Supervise heating and cooling use—Many smart thermostats offer great data through their app, such as how long you required heating and cooling on a certain day.
  • Reminders—Some smart thermostats will alert you to crucial maintenance tasks, like when it’s time to put in a new air filter.
  • Added savings—Most local energy companies provide rebates for smart thermostats, so contact with yours for details.

Cons

In spite of that, there’s several areas you should consider when considering adding a smart thermostat in your residence:

  • Compatibility—Depending on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re not sure, it’s best to check with an HVAC professional like M & S Heating & Air LLC. We also advise having it professionally installed. This ensures that you have the right number of wires and that it’s connected properly. Some systems don’t come with a common wire, which leads to 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 home and want to reside there for years, it’s a smart investment to install a smart thermostat. If you’re planning to move in the next year or rent, we suggest delaying unless you will take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first ahead of adding a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we recommend 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 frequently at the house? If so, you might not see as big of savings, but you’ll have the perks of not needing to program or adjust a thermostat.

Depend on M & S Heating & Air LLC for Your Smart Thermostat Needs

At M & S Heating & Air LLC, our main goal is to keep your home pleasant while helping you conserve more heating and cooling costs. If you’re wanting to install a smart thermostat, our specialists can help, from picking the best model to expert installation. Contact us at 301-363-4699 today to learn more.