Can Installing a Smart Thermostat Save You Money?

Smart Thermostat with a person using their phone to adjust room temperature.

Smart home technology is a game changer for convenience, security, and energy efficiency. Gadgets like doorbell cameras and smart speakers are becoming more popular as they evolve and improve. The same is true for one of the most useful smart devices available today: the smart thermostat.

Programmable thermostats have been around for many years, but a smart thermostat offers even more features and better functionality. With user-friendly design features, smart thermostats can help you save energy, lower heating and cooling expenses, provide useful data, and give you more control of your HVAC system when you’re away from home.

So how much can a smart thermostat really save you? While each home situation will differ, most people can expect to save about 10 to 30% annually, depending on how you set up your thermostat. Nest, by Google, is one of the more popular choices for smart thermostats. Their user surveys indicate average savings of 10% on heating and 15% on cooling. One thing to consider before deciding on which smart thermostat to purchase: make sure it’s compatible with your smart hub, if you have one.

Learning What You Like

One of the most powerful features of a smart thermostat is its ability to learn your daily routines. A smart thermostat will adjust the HVAC system for energy savings while maintaining your preferred comfort level. But in order for this feature to work effectively and deliver consistent results, you’ll have to set up the thermostat according to the instructions and follow some of the recommended guidance. However, once you set it up and it begins learning, you shouldn’t have to make many, if any adjustments.

Gradual Temperature Adjustments

Smart thermostats monitor the indoor temperature and will gradually make incremental adjustments up or down, rather than delivering a huge blast of heated or cooled air all at once. Smart thermostats are much better and more efficient at maintaining a constant temperature. More so than some of the old-school systems that would allow greater temperature swings, which is much less energy efficient. Gradual adjustments also make for a much more comfortable living environment for everyone in the house.

Track Energy Usage Over Time

Another great advantage of a smart thermostat is the data it provides. You’ll have a much better understanding of your daily and yearly energy usage when using a smart thermostat. You’ll have easy access to this data through your phone for all the data your smart thermostat is tracking. You can access heating or cooling hours by day, month, or for the year. Some systems will even provide an hour-by-hour view of how your system is functioning. You can compare data from month to month, or from the same month the previous year to understand how your local weather affects your energy usage, as well as compare any lifestyle changes you may have made.

Remote Climate Control

Once your smart thermostat has been up and running for a while you’ll begin to realize it’s a lot more than just a thermostat. It’s an energy saving device that can help you better understand your energy usage, while creating the optimal indoor environment for you and your family.

If your schedule is irregular, programming may take a little longer to get dialed in, but you can manually adjust the system any time using your phone. So if you know you’ll be getting home early or late, simply access the mobile app to crank up the heat or AC to the desired temperature so the house will be comfortable when you arrive. Or if you have guests arrive when you’re not home, you can make the house comfortable for them in advance with just a few taps.

Related Topic: What Is a Smart Refrigerator?

Maintenance Reminders

A smart thermostat, like many other smart devices is good at storing data and providing reminders and notifications. Your smart thermostat will monitor your system, keep track of scheduled maintenance and provide feedback on any maintenance that has been performed. Just one less task you need to set a reminder for or remember. Your smart thermostat will alert you when something needs to be done, which can make your life a little easier.

Added Incentives

A smart thermostat can also put a little extra money in your pocket in the form of energy saving rebates. Many utility companies will incentivize homeowners and businesses to use energy more efficiently. Since smart thermostats accomplish this, many companies offer energy rebates for installation and use of a smart thermostat. Some utility companies even offer programs that allow you to opt in on energy saving programs, like lowering your home heating and/or cooling during peak usage hours—usually late afternoon through early evening hours.

Call a Pro for Help

The purchase and installation of a smart thermostat may cost you a little more initially, but in the long run installing a smart thermostat will save you money on your energy bill and provide a great deal of convenience too. Although savings will vary by user, most people will see pretty substantial savings year over year. However, installing a smart thermostat is not always a simple task, so to make sure it’s done right, contact your local Mr. Handyman for help installing a more energy efficient, money-saving smart thermostat