Will a Smart Thermostat Save Me Money on Heating and Cooling Costs?

December 07, 2020

Keeping your Gresham home comfortable can consume a good amount of money. A typical household spends about $172 on monthly heating and cooling bills, according to ENERGY STAR®, or around $2,060 yearly. At least half of that is consumed by heating and cooling.

Most houses have programmable thermostats, but the majority of people don’t take the trouble to use them properly. The process is time-consuming, complicated and only provides you a few options for temperature settings. When your home stays at an unchanging temperature throughout the day, it requires gas and electricity and adversely impacts your monthly expenses.

Smart thermostats adjust to your schedule and regulate the temperatures to accompany it. But can getting one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Utility Expenses

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

These studies used home heating and cooling expenses 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, resulting in an average savings of $131 to $145 yearly.

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 use it just like your previous thermostat. You’ll set it up and down, so the thermostat can learn about your needs. Then, it will get to work making a program that helps you save money, whether you’re at home or out and about. Because it geofences with your smartphone, you won’t have to think about adjusting it when you leave or come home.

Pros and Cons of Having a Smart Thermostat

Pros

As we mentioned prior, smart thermostats give many perks to your residence and utility costs, like:

  • No need to adjust—Your smart thermostat will adjust to your schedule, so you won’t need to waste time setting programs or remember to adjust it.
  • Knows when you arrive and take off—Because a lot of smart thermostats geofence with your phone, your home will go into an energy-efficient setting when you take off and be comfy when you get back.
  • Remote temperature management—You’ll be able to watch your home’s temperature from virtually anywhere, on account of an app on your phone.
  • Supervise 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—Some smart thermostats will remind you of important maintenance tasks, like when you need to replace your air filter.
  • Extra savings—Many local energy companies provide rebates for smart thermostats, so contact with yours for more information.

Cons

Having said that, there’s a couple of points you should consider when thinking about getting a smart thermostat in your house:

  • Compatibility—Depending on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you don’t know, it’s advisable to ask an HVAC specialist like Honke Heating & AC. We also suggest having it professionally installed. This guarantees that you have the proper number of wires and that it’s hooked up 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 home doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your residence and plan to reside there for years, it’s a wise investment to get a smart thermostat. If you plan to move shortly 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 in advance of putting in a new thermostat.
  • Cost—Smart thermostats cost more 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 regularly at the house? If that’s the case, you might not see as large of savings, but you’ll have the perks of not being required to program or adjust a thermostat.

Rely on Honke Heating & AC for Your Smart Thermostat Needs

At Honke Heating & AC, our main purpose is to keep your house comfy while helping you conserve more utility costs. If you’re wanting to install a smart thermostat, our specialists can help, from choosing the best model to expert installation. Call us at 503-663-8033 today to learn more.