Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Mankato area house comfortable can require a good amount of money. A typical homeowner spends about $172 on monthly heating and cooling bills, according to ENERGY STAR®, or about $2,060 yearly. At least half of that goes to heating and cooling.

Most residences have programmable thermostats, but the majority of people don’t take the trouble to set them. The process is annoying, involved and only offers you limited options for temperature settings. When your residence is kept at an unchanging setting throughout the day, it consumes energy and badly influences your monthly expenses.

Smart thermostats adjust to your day-to-day activities and regulate the temp to accompany it. But can installing one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Utility Bills

Independent studies show these devices can produce major savings.

These studies involved home heating and cooling costs in 41 states before and after adding 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 approximated savings of $131 to $145 each year.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first use it just like your old thermostat. You’ll switch it up and down, so the thermostat can learn about your wants. Then, it will start making a program that helps you save money, whether you’re at your residence or gone. Because it geofences with your smartphone, you won’t have to remember to adjust it when you go or come back.

Pros and Cons of Getting a Smart Thermostat

Pros

As we mentioned before, smart thermostats give a lot of benefits to your residence and heating and cooling expenses, such as:

  • No need to program—Your smart thermostat will pick up on your activities, so you won’t need to use up time adjusting programs or remember to change.
  • Knows when you come and go—Since a lot of smart thermostats geofence with your phone, your home will go into an energy-efficient setting when you leave and be comfy when you arrive.
  • Remote temperature supervision—You’ll be able to watch your residence’s temp from just about any location, due to an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give great data through their app, such as how long you used heating and cooling on a specific day.
  • Reminders—Some smart thermostats will remind you of important maintenance tasks, including when it’s time to change your air filter.
  • Extra savings—Most local energy companies offer rebates for smart thermostats, so check with yours for details.

Cons

However, there’s a few areas you should contemplate when thinking about installing 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’re not sure, it’s best to check with an HVAC professional like Northern Comfort Inc. We also recommend having it professionally installed. This guarantees that you have the correct number of wires and that it’s linked properly. Some systems don’t come with a common wire, which creates compatibility troubles with a smart thermostat. This wire energizes your thermostat, so if your residence doesn’t have a C-wire, we can add one.
  • Housing situation—If you own your house and plan to reside there for many years, it’s a good 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 prior to putting in a new thermostat.
  • Cost—Smart thermostats are more expensive 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 often at the house? If that’s the case, you might not see as large of savings, but you’ll have the benefits of not having to program or adjust a thermostat.

Trust Northern Comfort Inc for Your Smart Thermostat Needs

At Northern Comfort Inc, our top purpose is to keep your house pleasant while helping you spend less utility bills. If you’re wanting to install a smart thermostat, our professionals can help, from selecting the best model to expert installation. Give us a call at 507-307-4818 today to learn more.

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