Nothing is worse than rushing out the door in the morning only to remember you left the heat running. You know you are going to come home to a muggy, hot house, and the energy you’ll waste trying to cool it down is going to hurt your wallet.
Fortunately, smart thermostats can address problems like these and offer numerous added benefits. You may be wondering, “Do smart thermostats save money?” The answer may surprise you!
In this guide, we discuss how smart thermostats work, what factors impact your savings, and how to maximize both comfort and cost efficiency, because when it comes to your energy bill, smarter does actually mean better.
Table of Contents
- What Is a Smart Thermostat?
- How Do Smart Thermostats Save Money on Energy Bills?
- Potential Savings: What Homeowners Can Expect and Factors To Consider
- 3 Benefits of Smart Thermostats Beyond Savings
- Are Smart Thermostats Worth the Investment?
- Choosing the Right Smart Thermostat for Your Home
- Upgrade Your Home Comfort With a New Smart Thermostat From AAA Heating & Cooling
What Is a Smart Thermostat?
A smart thermostat connects to Wi-Fi and allows access to manage the temperature through an app on your mobile device. Smart thermostats often have more features that can help improve efficiency and convenience when controlling the home’s temperature.
Smart thermostats:
- Are accessible on the go
- Can show the temperature and humidity levels in each room
- Provide more in-depth scheduling options
- Can adapt based on the number of occupants in each room
- Can monitor air quality
- Can integrate with other home systems
- Can provide energy insights and reports
- And more
Smart vs. Programmable Thermostats
When it comes to comparing smart vs. programmable thermostats, the main features that separate the two are:
- Convenience: Being able to adjust the temperature of your home at any time can be a huge benefit. Left for vacation and forgot to turn the AC off? No problem. Did you wake up in the middle of the night because it was too hot? Turn the heat down without ever getting out of bed.
- Energy efficiency: Saving energy and money are no-brainers. Smart thermostats can regulate the temperature based on usage patterns and recommend settings to save even more money as they get to know you.
- Customization: Being able to see the temperature in each room can help you adjust for the comfort of each occupancy.
How Do Smart Thermostats Save Money on Energy Bills?
Smart thermostats can save you 10-12% on heating and 15% on cooling, according to the U.S. Department of Energy, if used correctly. While saving money sounds great, you may be wondering how a smart thermostat actually saves you money on your energy bill. Here’s how it works.
Learning Your Habits
A smart thermostat can learn your schedule and habits, adapting to minimize wasted energy. For example, a smart thermostat can lower the heat while you are at work and raise it before you come home. This eliminates waste and leaves your home feeling comfortable exactly when you need it the most.
Remote Access and Control
Adjusting your thermostat on your phone can be beneficial for those who travel frequently, come and go often, or frequently forget to adjust the thermostat before leaving.
Having access to changing your heating or cooling on the go can save energy that would have been wasted. This can also be beneficial for those with pets at home who may need to adjust the temperature for them throughout the day.
Energy Usage Reports
Smart thermostats can provide valuable data insights that empower homeowners to make informed, energy-conscious choices regarding their heating and cooling usage. By showing an overview of daily, weekly, and monthly usage, you can make conscious adjustments to your patterns that can save you a significant amount of money.
For example, thermostats like Nest or ecobee can make specific suggestions or adjustments to help you save on your energy bill. These recommendations and insights may inspire homeowners to make energy-efficient changes.
Potential Savings: What Homeowners Can Expect and Factors To Consider
Smart thermostats can be highly beneficial for homeowners, but it is essential to note that their impacts may vary based on specific factors. Let’s dive into some of these factors.
Climate and Region
Climate can directly determine the HVAC demand in one’s household.
You can save money with a smart thermostat in a cold climate by lowering the temperature while you are asleep and pre-heating the home while you are away.
You can save money with a smart thermostat in a hot climate by pre-cooling before peak temperatures and turning the AC off when you are away from your home.
Saving money with a smart thermostat in a mild climate may result in a less dramatic financial impact, but it still offers a convenience benefit.
It is also important to note that areas with large day-to-night temperature swings can significantly benefit from automated temperature control in terms of saving money.
Household Size and Lifestyle
Depending on the size of your household and the level of usage throughout the day, your savings can vary.
For a large household, the savings potential can be substantial when room sensors are in use. HVAC usage can be high due to:
- More movement
- Different temperature preferences
- Room usage
Utilizing schedules and adjusting the temperature based on data received from sensors can reduce unnecessary usage.
For a small household, the savings potential can be moderate, depending on your routines. Smaller homes require less HVAC usage due to their square footage and lower need to accommodate preferences.
Additionally, your savings potential can vary based on your lifestyle. If you are away at work all day, you can significantly benefit from the geofencing features and scheduling. If you are home during the day, turning off the HVAC isn’t as practical, but you can still save money by fine-tuning room comfort and optimizing the smart thermostat features.
3 Benefits of Smart Thermostats Beyond Savings
While savings can be a great motivator, using a smart thermostat also has other benefits that can be the deciding factor for households. Let’s explore the three main benefits and why they matter.
#1: Comfort and Convenience
When living in a home with a smart thermostat, the system can use its features to adjust to your comfort level. The smart thermostat can:
- Automatically learn your preferences and automatically adjust when needed
- Track your location through geofencing to adjust the temperature based on whether you are at home or not
- Set personalized schedules based on your lifestyle, sleep schedules, and more
- Provide multi-room comfort with sensors that can detect occupancy and balance the temperature in multi-story homes
Additionally, users can control the temperature in various ways, including through the system’s mobile app and Amazon’s Alexa, Google Assistant, and Apple’s Siri, making it easy to adjust their thermostat and analyze its efficiency.
#2: Environmental Impact
Smart thermostats offer environmental benefits that go beyond cost savings and convenience. The features of the smart impact can:
- Reduce energy consumption: Your system will only use energy that is needed, ensuring there is less wasted energy, which leads to less demand on power plants and reduced carbon emissions
- Lower greenhouse gas emissions: By running HVAC systems more efficiently, you’ll reduce the contribution that HVAC systems make to greenhouse gas emissions.
- Encourage sustainable behavior: Providing usage insights and eco-friendly suggestions can promote better behavior. Its features are like a fitness tracker for your HVAC — data can drive better decision-making.
#3: Longer HVAC Lifespan
Smart thermostats can significantly contribute to the longevity of your HVAC system, helping you avoid expensive repairs and premature replacement due to the system’s constant use. Smart thermostats can:
- Reduce the system’s wear and tear
- Provide more innovative scheduling to prevent overuse
- Integrate with zoned systems to balance temperatures across all rooms
- Provide maintenance alerts and usage tracking that encourage preventative maintenance, ensuring fewer breakdowns and a longer lifespan.
- The system regulates temperature and provides gradual adjustments without stressing components such as the compressor and blower motor.
If your smart thermostat is alerting you to maintenance or system issues, having a trusted company like AAA Heating and Cooling can help ensure your system is repaired promptly and correctly. We are available to make sure your system lives the long life it deserves.
Are Smart Thermostats Worth the Investment?
While smart thermostats are more expensive than standard thermostats, they may save you money in the long run.
Smart thermostats can range from $100 to $300 and may include potential installation fees. Fortunately, utility companies often offer rebates and incentives that can lower the cost. Additionally, the cost-saving ability can truly outweigh the initial cost of the thermostat. On average, it only takes 12 years to recoup the initial costs of installing a smart thermostat.
Choosing the Right Smart Thermostat for Your Home
Compatibility With Your HVAC System
Although smart thermostats are a good investment in your home, they may not be compatible with all HVAC systems. Finding an experienced professional, like AAA Heating and Cooling, can help you upgrade your system if installing a smart thermostat is the right choice for you. Contact us today to get your questions answered.
Features To Look For
While most smart thermostats have similar features, certain brands may have more of what you are looking for when upgrading your home to a smart thermostat system, including:
- Geofencing
- Learned algorithms
- Multi-zone control
- Integration with Alexa/Google/Apple
- Energy reports
- Sensors for temperature, occupancy, and humidity
- Remote control
- Alerts and maintenance reminders
- And more
Upgrade Your Home Comfort With a New Smart Thermostat From AAA Heating & Cooling
If you are ready to upgrade your HVAC system to a smart thermostat, AAA Heating and Cooling is here to help. As an experienced Portland HVAC company, we can answer any questions you may have and upgrade your system if necessary.
In addition to installing smart thermostats, we provide services to residential and commercial properties, such as:
- Furnaces
- Heat pumps
- Air conditioners
- Air quality
- Control systems
- Water heaters
- Duct cleaning
- Split systems
- And more
Contact our helpful team to see how we can help keep your business or home comfortable today!