Man adjusting his smart thermostat

Do Smart Thermostats Really Save Money?

Keeping your Rapid City house comfy can eat up a big chunk of change. The usual homeowner spends about $172 on monthly utility costs, according to ENERGY STAR®, or about $2,060 yearly. At least half of that is consumed by heating and cooling.

Many homes use programmable thermostats, but most people don’t bother to program them. The process is annoying, involved and only offers you a few options for temperature changes. When your residence remains at an identical temperature throughout the day, it requires gas and electricity and negatively affects your monthly costs.

Smart thermostats learn from your routine and change the temperatures to accompany it. But can installing one really conserve money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Heating and Cooling Expenses

Independent studies have determined these devices can produce major savings.

These studies used home energy bills in 41 states before and after putting in a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, resulting in an average 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 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 at first set it just like any other thermostat. You’ll switch it up and down, so the thermostat can learn about your desired settings. Then, it will begin developing a program that helps you spend less money, whether you’re at home or away. As it geofences with your smartphone, you won’t have to think about adjusting it when you exit or get back.

Pros and Cons of Having a Smart Thermostat

Pros

As we talked about before, smart thermostats offer lots of pluses to your home and energy expenses, like:

  • No need to adjust—Your smart thermostat will learn your routine, so you won’t need to waste time using programs or remember to change.
  • Knows when you get home and leave—Because lots of smart thermostats geofence with your phone, your home will go into an energy-efficient setting when you take off and be cozy when you arrive.
  • Remote temperature control—You’ll be able to watch your home’s settings from virtually anywhere, thanks to an app on your phone.
  • Monitor heating and cooling use—The majority of smart thermostats offer valuable data through their app, such as how long you required heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will let you know about essential maintenance tasks, like when it’s time to put in a new air filter.
  • Additional savings—Most local energy companies provide rebates for smart thermostats, so check with yours for more info.

Cons

However, there’s a couple of areas you should contemplate when thinking about getting a smart thermostat in your residence:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not work. If you’re unsure, it’s advisable to ask an HVAC pro like Street Heating and Cooling. We also advise having it professionally installed. This ensures that you have the right number of wires and that it’s connected properly. Some systems don’t have a common wire, which results in compatibility issues 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 house and plan to live there for years, it’s a smart investment to get a smart thermostat. If you plan to move shortly or rent, we recommend waiting unless you will take the thermostat with you. If you rent, you’ll typically need to have your landlord’s permission first in advance of getting a new thermostat.
  • Cost—Smart thermostats cost more 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 frequently at the house? If so, you might not see as many savings, but you’ll have the perks of not needing to program or adjust a thermostat.

Rely on Street Heating and Cooling for Your Smart Thermostat Needs

At Street Heating and Cooling, our top priority is to keep your house pleasant while helping you spend less utility costs. If you’re considering installing a smart thermostat, our pros can help, from choosing the right model to expert installation. Contact us at 605-206-3915 today to learn more.

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