Do Smart Thermostats Save Money?

Smart thermostats are becoming increasingly popular as they promise to reduce energy costs while providing a comfortable home environment.

About 13% of households in the US currently use smart thermostats, and roughly 29% planned to purchase one in 2022. But do smart thermostats really save money?

Energy Star, a program run by the US Environmental Protection Agency to promote energy efficiency, reports that smart thermostats save US homeowners an average of $50 per year. However, with our local reliance on air conditioners and heat pump cooling, your specific savings could be much higher based on the following:

  • The average temperature of the season (summer can easily soar over 100 degrees)
  • Your personal comfort preferences
  • How many people live in your home
  • The specific HVAC system installed in your home

What Is a Smart Thermostat?

A smart thermostat is an energy-saving device that connects to your HVAC system via Wi-Fi, allowing you to remotely control the temperature in your home. This online communication is sometimes referred to as “the Internet of Things.” It can work in tandem with other digitally connected appliances and electronics in your home, such as virtual assistants or remote security systems.

You can set up automated schedules to adjust the temperature throughout the day and adjust your smart thermostat from any location using your smartphone or tablet.

How Do Smart Thermostats Work?

Smart thermostats work similarly to traditional ones that run on a pre-determined schedule. The significant difference is that smart thermostats will learn your behavior over time and adjust accordingly to save you more energy and money. Some models even come with advanced features like motion detection or geofencing, which allow them to detect when someone has left or entered a room and adjust the temperature accordingly.

How Do Smart Thermostats Save Energy?

Smart thermostats learn your habits and temperature preferences and use pattern-building to apply data to create an optimal heating and cooling schedule customized to your household. For example, if you typically leave for work at 8 am, the thermostat will adjust the temperature accordingly when it senses that no one is home. This helps reduce energy consumption because less energy is spent heating or cooling an empty house.

How Do Smart Thermostats Save Money?

The most obvious way that smart thermostats save money is by eliminating the need for you to adjust the temperature setting manually. Instead, they automatically ensure that your heating and cooling systems run only when they really need to, all year round. You don’t have to remember to adjust your temperature settings throughout the day or worry that you’ve left the house empty during a heatwave without turning the air conditioner down.

Some smart thermostats also save money by reducing energy usage when a window or door is left open. Some smart thermostats can detect when windows are open or closed and automatically adjust climate settings to match the outdoor temperature more closely, maximizing efficiency and conserving energy.

Benefits of a Smart Thermostat

In addition to their convenience (with features like voice control and geofencing technology), smart thermostats also offer even more benefits.

Air quality sensors help users keep their home’s indoor air quality at an optimal level. Air quality sensors are particularly useful during wildfire season and can detect when outdoor air becomes dangerous to breathe.

These smart devices may also provide helpful reminders about changing your HVAC filters and scheduling necessary seasonal HVAC maintenance appointments.

Remote controls mean that you can adjust your settings from afar. Coming home from work early? Make sure your air conditioner turns on in time to cool the house before you arrive. If you forgot to adjust your temperature settings before leaving on vacation, handle it from anywhere, so you don’t lose out on savings.

Can I Install a Smart Thermostat Myself?

Yes! Most modern smart thermostats come with easy-to-follow instructions that simplify installation, even for those with little experience installing electronic devices.

Of course, if you’re still unsure how best to handle the installation process, call the professionals for hassle-free thermostat installation.

Get Started Saving with a Smart Thermostat

Investing in a smart thermostat is an excellent way for any homeowner to enjoy hassle-free convenience and comfort throughout the year while saving money on their monthly energy bills. They’re available at a range of prices, and One Hour Air Conditioning & Heating of Las Vegas can help you choose the best thermostat for your home and budget. Call us at (702) 602-8801 to get started.