How Does a Smart Thermostat Save Money on Utility Expenses?

December 07, 2020

Keeping your Beaverton home comfy can consume a lot of money. The usual family spends about $172 on monthly energy expenses, according to ENERGY STAR®, or about $2,060 each year. At least half of that is for heating and cooling.

The majority of homes rely on programmable thermostats, but the majority of people don’t take the trouble to program them. The process is annoying, detailed and only provides you a few options for desired temperatures. When your home is kept at an unchanging temp throughout the day, it wastes utilities and negatively impacts your monthly bill.

Smart thermostats adjust to your day-to-day activities and regulate 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 Reduce on Energy Expenses

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

These studies involved home utility costs 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, resulting in an average savings of $131 to $145 annually.

With the common smart thermostat running between $100–$250, those savings can help it pay for itself. And many local energy companies have rebates for smart thermostats since they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first program it just like your previous thermostat. You’ll turn it up and down, so the thermostat can learn about your desired settings. Then, it will begin developing 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 put it on your list to adjust it when you leave or return.

Pros and Cons of Using a Smart Thermostat

Pros

As we talked about prior, smart thermostats provide a lot of advantages to your residence and utility costs, including:

  • No need to program—Your smart thermostat will learn your routine, so you won’t need to use up time adjusting programs or remember to change.
  • Knows when you come and take off—Because lots of smart thermostats geofence with your phone, your residence will be put into an energy-efficient setting when you take off and be comfortable when you get back.
  • Remote temperature management—You’ll be able to keep an eye on your residence’s temperature from nearly any location, because of an app on your phone.
  • Monitor heating and cooling use—The majority of smart thermostats provide valuable data through their app, including how long you needed heating and cooling on a particular day.
  • Reminders—Select smart thermostats will let you know about critical maintenance tasks, such as when it’s time to put in a new air filter.
  • Added savings—Most local energy companies offer rebates for smart thermostats, so call with yours for details.

Cons

In spite of that, there’s a few points you should contemplate when considering 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 function with it. If you’re unsure, it’s recommended to ask an HVAC pro like Garoken Energy Co. Inc.. We also recommend having it professionally installed. This guarantees that you have the correct number of wires and that it’s linked correctly. Some systems don’t include a common wire, which results in compatibility problems with a smart thermostat. This wire powers your thermostat, so if your home doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your home and plan to live there for many years, it’s a good investment to have a smart thermostat. If you’re planning to move soon or rent, we recommend waiting unless you want to take the thermostat with you. If you rent, you’ll usually need to secure your landlord’s permission first ahead of installing a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we suggest 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 that’s the case, you might not see as many savings, but you’ll enjoy the convenience of not being required to program or adjust a thermostat.

Depend on Garoken Energy Co. Inc. for Your Smart Thermostat Needs

At Garoken Energy Co. Inc., our main goal is to keep your house cozy while helping you save on heating and cooling bills. If you’re thinking about installing a smart thermostat, our professionals can help, from picking the best model to expert installation. Contact us at 503-374-1934 today to learn more.