Do Smart Thermostats Really Save Money on Heating and Cooling?

December 07, 2020

Keeping your Winnipeg house comfy can consume a good amount of money. The usual homeowner spends about $172 on monthly energy expenses, according to ENERGY STAR®, or around $2,060 yearly. At least half of that goes to heating and cooling.

The majority of homes use programmable thermostats, but most people don’t bother to use them properly. The process is time-consuming, detailed and only gives you limited options for temperature changes. When your home remains at an unchanging temperature throughout the day, it consumes energy and negatively impacts your monthly bill.

Smart thermostats pick up on your schedule and modify the settings to coordinate it. But can getting one really save you money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Energy Expenses

Independent studies show these devices can lead to large savings.

These studies included home utility bills in 41 states before and after putting in a Nest smart thermostat. Nest said the study determined its thermostats can save up to 12% on heating and 15% on cooling, producing an approximated savings of $131 to $145 each year.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll at first program it just like your previous thermostat. You’ll turn it up and down, so the thermostat can learn about your wants. Then, it will get to work creating a program that helps you spend less money, whether you’re at your residence or gone. Because it geofences with your smartphone, you won’t have to put it on your list to adjust it when you exit or come back.

Pros and Cons of Having a Smart Thermostat

Pros

As we covered previously, smart thermostats offer a lot of benefits to your house and energy bill, such as:

  • No need to adjust—Your smart thermostat will pick up on your routine, so you won’t be required to waste time adjusting programs or remember to turn it up or down.
  • Knows when you arrive and take off—Because many smart thermostats geofence with your phone, your home will move into an energy-efficient setting when you go and be cozy when you get back.
  • Remote temperature control—You’ll be able to keep an eye on your residence’s temperature from just about anyplace, thanks to an app on your phone.
  • Watch heating and cooling use—The majority of smart thermostats provide valuable data through their app, including how long you needed heating and cooling on a specific day.
  • Reminders—Some smart thermostats will remind you of critical maintenance tasks, such as when you need to get a new air filter.
  • Added savings—Most local energy companies provide rebates for smart thermostats, so check with yours for more info.

Cons

In spite of that, there’s a few points you should take into account when thinking about installing a smart thermostat in your home:

  • 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 advisable to check with an HVAC professional like Kirkfield Heating & Air Conditioning. We also suggest having it professionally installed. This confirms that you have the correct number of wires and that it’s linked properly. Some systems don’t have a common wire, which leads to compatibility troubles with a smart thermostat. This wire powers 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 plan to reside there for many years, it’s a good investment to have a smart thermostat. If you plan to move soon or rent, we advise holding back unless you want to take the thermostat with you. If you rent, you’ll often need to secure your landlord’s permission first in advance of installing a new thermostat.
  • Cost—Smart thermostats are more expensive 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 that’s your situation, you might not see as big of savings, but you’ll have the convenience of not needing to program or adjust a thermostat.

Trust Kirkfield Heating & Air Conditioning for Your Smart Thermostat Needs

At Kirkfield Heating & Air Conditioning, our number one priority is to keep your home pleasant while helping you conserve more utility costs. If you’re considering installing a smart thermostat, our pros can help, from choosing the right model to expert installation. Give us a call at 204-272-8128 today to learn more.