Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Carlsbad home comfortable can eat up a good amount of money. The usual family spends about $172 on monthly energy bills, according to ENERGY STAR®, or approximately $2,060 yearly. At least half of that is consumed by heating and cooling.

The majority of homes rely on programmable thermostats, but many people don’t take the trouble to program them. The process is annoying, detailed and only gives you a few options for desired temperatures. When your residence stays at an unchanging temp throughout the day, it wastes energy and badly impacts your monthly expenses.

Smart thermostats learn from your routine and adapt the settings to coordinate it. But can having one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Save on Utility Expenses

Independent studies have found these devices can produce big savings.

These studies included home energy costs in 41 states before and after adding a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, generating an average savings of $131 to $145 yearly.

With the typical smart thermostat priced between $100–$250, those savings can help it pay for itself. And most local energy companies provide 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 first program it just like your previous thermostat. You’ll switch it up and down, so the thermostat can figure out your wants. Then, it will begin creating a program that helps you save money, whether you’re at your house or away. Because it geofences with your smartphone, you won’t have to think about adjusting it when you go or come home.

Pros and Cons of Getting a Smart Thermostat

Pros

As we talked about previously, smart thermostats offer a lot of benefits to your residence and utility costs, including:

  • No need to adjust—Your smart thermostat will pick up on your schedule, so you don’t have to spend time adjusting programs or remember to turn it up or down.
  • Knows when you come and take off—Since a lot of smart thermostats geofence with your phone, your residence will move into an energy-efficient setting when you go and be comfy when you arrive.
  • Remote temperature control—You’ll be able to keep an eye on your home’s temperature from nearly anywhere, because of an app on your phone.
  • Watch heating and cooling use—Many smart thermostats give great data through their app, such as how long you needed heating and cooling on a particular day.
  • Reminders—Some smart thermostats will alert you to important maintenance tasks, including when you’re due to change your air filter.
  • Added savings—Most local energy companies provide rebates for smart thermostats, so call with yours for details.

Cons

However, there’s a couple of points you should take into account 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 don’t know, it’s best to check with an HVAC professional like Banister's Heating & Air Conditioning Services. We also suggest having it professionally installed. This guarantees that you have the right number of wires and that it’s connected properly. Some systems don’t have a common wire, which creates compatibility issues with a smart thermostat. This wire runs your thermostat, so if your home doesn’t have a C-wire, we can put one in.
  • Housing situation—If you own your home and want to live there for many years, it’s a wise investment to get a smart thermostat. If you’re thinking about moving shortly or rent, we suggest delaying unless you will take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first prior to adding a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we recommend 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 your situation, you might not see as big of savings, but you’ll enjoy the perks of not needing to program or adjust a thermostat.

Depend on Banister's Heating & Air Conditioning Services for Your Smart Thermostat Needs

At Banister's Heating & Air Conditioning Services, our number one goal is to keep your house comfortable while helping you spend less heating and cooling expenses. If you’re considering installing a smart thermostat, our pros can help, from choosing the best model to expert installation. Call us at 575-446-3948 today to learn more.

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