If you're looking for a way to spend less money and energy in your home, it might be a wise investment to explore getting a smart thermostat. These gadgets can do everything from track when you leave the house, so that it doesn't throw away electricity heating or cooling an empty home, to changing energy usage according to how many people are in a room or what time of day it is.
We'll cover what a smart thermostat is, how it works and why it's worthwhile to purchase one. We'll also talk about how it can help you spend less money on your energy bills by lowering energy consumption.
What Is a Smart Thermostat?
A smart thermostat is an automated device that allows you to do it all from adjusting your heating and cooling settings for different times of day, to monitoring when people are in the house, so it isn't needlessly consuming energy by heating or cooling a vacant home.
Many smart thermostats have learning capabilities, which means they pay attention to how you adjust your settings and make automatic adjustments over time based on what they learn from you.
A smart thermostat links to Wi-Fi, so you'll be able to adjust and monitor your energy usage from just about anywhere.
How Do Smart Thermostats Work?
A smart thermostat has learning algorithms and can connect with other smart home technology, such as Google Home, Amazon Alexa and Apple HomeKit, for improved control over your comfort. They work with most systems, such as home heating and air conditioning.
Smart thermostat features consist of a temperature sensor that can tell when the home is empty, and then automatically change to an energy-efficient setting. Your smart thermostat might be able to geofence with your phone to know when you're at home or out.
A smart thermostat does things like adjust more for rooms that are full or have more people in them, as well as track what time of day it is so it knows how much heating or air conditioning should be going.
Are Smart Thermostats Worth It?
For some people, the answer is yes. If you do a lot of travel or are out for long hours during the day, it may be worth your money to invest in one of these thermostats. You could save a significant amount, especially if you forget to change it when you leave for work or go out of town for the weekend.
You won't have to be concerned about whether your smart thermostat is on the appropriate program, or if you remembered to adjust the temperature setting before you left. It doesn't require much effort on your part, but you'll notice it in lower energy bills.
Smart Thermostats vs. Programmable Thermostats
Most homeowners have a standard programmable thermostat, but 40% of them aren’t set properly. This means you could be missing chances to save on heating and cooling expenses.
Smart thermostats are convenient because they adjust to your schedule and automate heating and cooling to match. You can set a comparable schedule on a programmable thermostat. But it's more effort to program your thermostat manually.
A smart thermostat automatically adjusts and gradually changes the temperature inside your home for the greatest energy savings. If you manually adjust a programmable thermostat, you can overload your HVAC system and make it work harder to meet your adjustments.
Do Smart Thermostats Save Energy?
Yes, because your smart thermostat will learn about your temperature preferences and day-to-day activities to make a schedule that reduces heating and cooling costs. You don't have to do much as your thermostat does all the work for you while saving money.
You can get the same energy savings with a programmable thermostat, but it's going to require a little bit more effort than a smart thermostat. To set up a schedule on programmable models, we suggest following these guidelines from ENERGY STAR® to save energy.
Suggested Temperature Settings for Your Heating System
- Wake: Below 70 degrees.
- Day: Set back at least 8 degrees, if no one is home.
- Evening: Higher than 70 degrees.
- Sleep: Decrease at least 8 degrees.
Suggested Temperature Settings for Your Cooling System
- Wake: Higher than 78 degrees.
- Day: Set up at least 7 degrees, if no one is there.
- Evening: Lower than 78 degrees.
- Sleep: Set up at least 4 degrees.
To sum up, you don't have to get a smart thermostat to save on your energy bill. All you need is a programmable thermostat, but it's important to note that any savings may come at the cost of your comfort and convenience.
Do Smart Thermostats Save Money?
Nest, one of the most popular smart thermostat manufacturers, states its smart thermostat saves U.S. households about:
- 10-12% on your heating bill
- 15% on your cooling bill
- $131 to $145 on your energy bill annually
Your smart thermostat will provide you with a monthly heating and cooling report, which often compares you to other residences in your community.
Your potential savings differ based on your home, where you live, how much insulation you have and your preferred temperature settings. You might experience average savings, significant savings or somewhere in between.
If you're noticing you're only getting small savings on energy costs, you might be optimizing for energy efficiency already. This includes turning off your HVAC system when you're not at home or moving your thermostat up/down when you're asleep.
Smart thermostats make the process easy through their hands-off process that gradually shifts the temperature. If you're at home a lot, it might not save you much on energy costs as is the point in an automated, energy-efficient schedule.
How to Get a Smart Thermostat Rebate
Most utility companies offer rebates to homeowners who install energy-saving, ENERGY STAR-certified equipment such as a smart thermostat. The rebate total varies by company, but in many instances, it will take care of most or all the expense. To find out more, visit your utility company's website for rebate info.
Trust the Experts for Your Smart Thermostat Needs
Installing a smart thermostat is an investment, but it can save you money in the end. If you’ve been thinking about installing one and want to know if they run as promised, we offer free home comfort assessments. Call our Experts at 317-527-0271 to schedule yours today!