How a Smart Thermostat Can Help You Spend Less on Energy

December 07, 2020

Keeping your Monroe residence comfortable can eat up a lot of money. The average household spends about $172 on monthly energy expenses, according to ENERGY STAR®, or approximately $2,060 each year. At least half of that is for heating and cooling.

The majority of houses use programmable thermostats, but most people don’t take the time to program them. The process is time-consuming, detailed and only gives you limited options for temperature changes. When your home stays at an unchanging temperature throughout the day, it wastes gas and electricity and badly affects your monthly costs.

Smart thermostats learn from your routine and change the temperatures to accompany it. But can using one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Save on Energy Costs

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

These studies involved home utility expenses in 41 states before and after putting in a Nest smart thermostat. Nest said the study found its thermostats can save up to 12% on heating and 15% on cooling, producing an approximated savings of $131 to $145 each year.

With the common smart thermostat priced between $100–$250, those savings can help it pay for itself. And many local energy companies provide 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 first program it just like your previous thermostat. You’ll turn it up and down, so the thermostat can figure out your needs. Then, it will get to work making a program that helps you save 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 Using a Smart Thermostat

Pros

As we talked about before, smart thermostats provide a lot of pluses to your house and energy expenses, like:

  • No need to set—Your smart thermostat will pick up on your routine, so you won’t need to waste time setting programs or remember to adjust it.
  • Knows when you come and go—Since many smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you take off and be comfortable when you get back.
  • Remote temperature control—You’ll be able to see your house’s temp from virtually anywhere, because of an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give valuable data through their app, such as how long you required heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will alert you to important maintenance tasks, including when you need to change your air filter.
  • Added savings—The majority of local energy companies provide rebates for smart thermostats, so call with yours for more info.

Cons

Having said that, there’s several things you should contemplate when thinking about adding a smart thermostat in your home:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not work. If you’re not sure, it’s best to contact an HVAC pro like Lanz Furnace and Fireplace. We also recommend having it professionally installed. This ensures that you have the proper number of wires and that it’s linked correctly. Some systems don’t have a common wire, which creates compatibility issues with a smart thermostat. This wire powers your thermostat, so if your residence doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and want to live there for a long time, it’s a good investment to install a smart thermostat. If you’re thinking about moving in the next year or rent, we suggest waiting unless you plan to take the thermostat with you. If you rent, you’ll typically need to have your landlord’s permission first before adding a new thermostat.
  • Cost—Smart thermostats cost more than programmable thermostats, and we suggest 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 so, you might not see as large of savings, but you’ll enjoy the perks of not being required to program or adjust a thermostat.

Depend on Lanz Furnace and Fireplace for Your Smart Thermostat Needs

At Lanz Furnace and Fireplace, our top priority is to keep your home comfy while helping you spend less heating and cooling bills. If you’re wanting to install a smart thermostat, our professionals can help, from selecting the ideal model to expert installation. Give us a call at 608-291-3606 today to learn more.