Last Updated on September 12, 2022
Contents
- 1 Learn If Smart Thermostats Are Going To Save You Any Money
- 2 What Are Smart Thermostats?
- 3 The Main Advantages of Smart Thermostats
- 4 Are All Smart Thermostats the Same?
- 5 Do Smart Thermostats Save Money?
- 6 How Much Will I Save If I Use a Smart Thermostat?
- 7 Do Smart Thermostats Save Money in Big Houses?
- 8 The Pros of Using a Smart Thermostat in Your Home
- 9 Frequently Asked Questions (FAQs)
Learn If Smart Thermostats Are Going To Save You Any Money
Are housing costs the main reason why you can’t save money? Many homeowners complain because of these monthly expenses. Whether you pay rent or mortgage, housing costs add up. The problem is that monthly utility bills add significant amounts to these costs. The larger the house, the more you pay for utilities.
How can you save money on your bills? There are different strategies you can apply. One of them is to optimize energy consumption. You might have already thought about this and asked yourself if smart thermostats save money. Let’s find out.
What Are Smart Thermostats?
These devices are smart for a reason. Just like your smartphone, they offer more than the basic functions they were designed for. A traditional thermostat sets the central air system at different temperatures. In its essence, a smart thermostat accomplishes the same, but it also offers extra features.
A smart thermostat does the following; it
- Allows you to configure an overall temperature inside your home.
- Helps you set different temperatures for different rooms.
- Can connect to your phone so you can manage it remotely.
Here are the main differences between a smart and traditional thermostat:
Key Features | |
Smart thermostats | Traditional thermostats |
You can program them remotely | You program the physical device |
They connect to mobile devices | They don’t connect to other devices |
They learn and adjust based on your behavior and preferences | They don’t make independent adjustments |
There are many extra features a smart thermostat can provide. These devices can be complex, but operating them isn’t. You should be able to download and set up the thermostat’s app on your phone in minutes. Exploring all the functions and benefits might take a while, though.
If you understand the basics, you can explore the rest at ease when you have time. The basic things to know about your smart thermostat are:
- How to change the temperature.
- How to turn the system on and off.
- How to connect it to another cell phone or account.
All this information should appear in the user manual. These are innovative technologies. You’ll find plenty of information about them on the internet. You might even find tutorials on how to use them. Of course, each company also provides support. You can reach out at any time if you have trouble using the device.
It’s also possible to use a professional installation service. This means that the provider will send a team of experts to your place. They will handle the entire installation process, from setting up the physical device to configuring your account. As you might expect, this service costs extra. It can be helpful, though. If you want a hassle-free experience and have little time on your hands, you might want to use this service.
The Main Advantages of Smart Thermostats
Smart thermostats come in handy for different reasons. They are:
- Easy to configure: easier than traditional ones. They have comprehensive guides.
- User-friendly: if you know how to use apps, you’ll have no problem managing your thermostat.
- Highly compatible: you can connect them to other devices that have internet.
The easiest way is to choose your smartphone to have immediate access to the thermostat. These devices can even connect to other smart devices such as speakers to help you manage them more easily. For example, with smart speakers, you can give voice commands. Just access the system and tell the tool what it should do.
Are All Smart Thermostats the Same?
Just like central heating systems are not equal, smart thermostats are not the same. Think about how they work. These devices connect to your heating system and your smartphone via an app. It is natural that they differ.
Smart thermostats have to be compatible with the system you use for home heating and cooling. They also need to be compatible with your phone or another mobile device. This usually is not a problem. Are you using Android or iOS? Check to make sure you will have no trouble connecting them with your system.
Smart thermostats also work differently based on how they were designed. For example, learning thermostats adapt to your behavior. They heat or cool the room based on your regular schedule. These thermostats kick in around the time you’re expected to arrive home.
Learning zoned thermostats are similar but offer more features. They learn users’ behavior, so they know around what time to turn on and off. They also learn the temperature preferences for each room.
Do Smart Thermostats Save Money?
Can a new thermostat save money if it is a smart one? The short answer is yes. Smart thermostats help you save money for different reasons. First of all, they are designed to optimize energy consumption. With these devices, you schedule heating or air-cooling systems even on the go. If you leave your home quickly, you shouldn’t worry.
If the air conditioning is on, you can turn it off from your mobile. This way, you avoid wasting money on air conditioning. The same applies to heating your home. You can adjust the temperatures on the go. The central heating system will therefore consume as few resources as possible.
Smart thermostats also have a mind of their own. Some of them rely on artificial intelligence to track your behavior. It might sound scary or complicated, but it shouldn’t. These thermostats analyze the information you enter on the app. They make decisions according to your preferences. They can adjust the heating or cooling system based on your behavior.
If your goal is saving money, it will reflect in your system configurations. For example, the thermostat will learn that you always keep one part of the house cooler. You might consider this if you haven’t already. Not heating or cooling all the rooms can help save money. Of course, this is only possible if nobody uses them, which might be the case in a big house.
You will use the same temperature settings. As a result, the AI (artificial intelligence)-based thermostat will track your behavior and remember it. It makes adjustments based on your preferences to help you save money.
Smart thermostats also use third-party information. Since they connect to the internet, they can fetch weather-related data. This is also relevant for money-saving purposes. The device can create a recommended schedule based on the weather conditions. The temperatures outside might decrease for a few days.
In this case, the thermostat recommends lowering the cooling system’s temperatures. This will help you save money and gain more comfort.
How Much Will I Save If I Use a Smart Thermostat?
This is what everyone wants to know when they ask if smart thermostats save money.
There is no standard answer to this question because these systems vary. Your energy bill also varies based on your home. The number of rooms you have, the house’s design, the windows’ position, everything matters. Two houses with the same surface located in the same area can have different energy consumption needs.
There are many things that influence your heating system’s requirements. Insulation is essential. The better the insulation materials, the less energy you waste. Your habits also play a fundamental role. Keeping the doors open or not pulling the blinds on hot days increases electricity usage. Habits like these allow the warm air from outside to get in, so you spend more cooling the house.
Despite all these factors, there are some statistics that are promising. For example, with the Nest thermostat, you can save 15% on heating and 10% on cooling. Another popular smart thermostat is the Ecobee thermostat. According to the manufacturer, this thermostat can help save up to 26%.
Let’s calculate how much you could save in half a year. This is the number of months corresponding more or less with winter and summer.
Monthly energy bill cost | $130 |
Percentage saved with a smart thermostat | 15% |
Money saved with a smart thermostat in a month | $19.50 |
Money saved in six months | $117 |
Based on a savings rate of 15%, you can save around $20 per month from a regular bill of $130. Over six months, this results in almost $120 you can save on your bills. You will save more or less depending on your monthly energy bill.
The number of months you use your heating and cooling system per year also matters. If you’re in a warm area and you need cooling throughout the year, you can save around $250 per year by saving $20 per month.
Do Smart Thermostats Save Money in Big Houses?
Smart thermostats help you save money in a big house. In fact, this is the ideal place to use one. Not that using them in a small house isn’t beneficial, but the difference is that small houses usually require a similar temperature level throughout.
You might have an apartment with one bedroom and one living room and want both rooms to have the same temperature. That is normal because you spend time in both of them.
In a big house, things are different. You might have one or two extra bedrooms. No one uses them unless you have guests. There is no point in heating them in winter or cooling them in summer. You can save money on your electricity bill by adjusting the temperatures in lesser-used rooms. A smart thermostat allows you to do this. You just have to change the temperature settings for those rooms.
The same applies to other parts of your home. There are additional spaces that might make you waste energy because you heat them, but you might not spend time there during the day to benefit from the warm temperatures you pay for:
- Halls
- The kitchen
- Extra bathrooms
If you don’t use these spaces, you shouldn’t invest in keeping them warm or cool. Focus on the areas of the house where you spend most of your time. Smart thermostats allow you to tweak your home temperatures according to your preferences.
The Pros of Using a Smart Thermostat in Your Home
We’ve tackled the question: do smart thermostats save money? Now, you might want to explore more benefits of using smart thermostats. Here are some of them.
Customization
Smart thermostats allow for different customization options. You can configure the system according to any temperature necessities and preferences. This translates into a higher level of comfort. Besides lower energy consumption, this is the second biggest benefit of smart thermostats.
Accessibility
With a smart thermostat, you can check the temperature at home at any time. If you plan to get home earlier, you can configure the temperature from your app accordingly. You just need a smartphone and the related thermostat application. You can access the heating and cooling system at any time, even from miles away.
Consumption tracking
Another advantage of smart thermostats is they allow you to track energy usage. This helps you keep a close eye on your spending. In the app, you can configure your home’s profile. It will include its surface and typical energy usage. Based on the data you enter, the thermostat’s app will show you energy consumption changes. You will be able to see how much you save each month with this device.
Smart Recommendations
A smart thermostat can also offer custom recommendations. It can give advice on the ideal temperature for your home. It also provides money-saving suggestions for electricity bills. The thermostat will recommend changes that can help save energy.
Frequently Asked Questions (FAQs)
How do you save money with an HVAC zoning system?
These systems help save money by allowing you to customize each room’s temperature. If you don’t use all the rooms in your home, you can set a lower temperature there in the winter. It can help you save a lot at the end of the cold season.
How else can I prepare for energy bills?
There are different ways to prepare to pay electricity bills. Budgeting methods are effective and can even help you fix your credit fast. One of them is the 50-30-20 budget method. This involves putting aside 20% of each month’s income.
The digital envelopes system is another saving strategy. With this method, you assign a strict budget to each major category of expenses. Then, you only use that established amount.
How much money can I save if I get a smart thermostat?
It all depends on your regular energy consumption. If you live in a big house, you will naturally spend more, but you could also save more with one of these thermostats. Some companies say their smart thermostats can help save around 10% – 20% on your bill. If you’re worried about your energy bill, use the half-payment method. This helps you put aside the necessary money in two steps.
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