Manufacturers make big claims about how you can save money with a smart thermostat. The device itself isn’t going to magically decrease energy consumption to help you save. It basically automates heating and cooling by adjusting the temperature to pre-determined settings. There are a few variables that impact how much you can save, which we’ll discuss below.
How much can you actually save? A white paper by Nest Labs describes its findings. The company had found a 10% to 12% savings on heating and 15% savings on cooling based on user reports. This amounted to up to $145 in savings over a year. At this rate, you could recoup the price of a smart thermostat in two years.
A number of factors affect how much money you’ll actually save:
- Changes in utility costs in your region
- The amount of energy you use
- Variations in seasonal weather
- The climate you live in
- The condition of your home/HVAC system
Savings tend to be less in temperate climates than where there is a lot of seasonal variability, like places that experience hot summers and frigid winters. Maintaining your HVAC system can keep it running efficiently, so it’s possible to see more savings by installing a smart thermostat. The quality and condition of your insulation matters too; if it leaks heat, keeping your home at a constant temperature all day requires more energy, which leads us to the major benefit of smart thermostats—automated setbacks.
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Why Shouldn’t I Keep My Home at a Constant Temperature?
Many people set their thermostat to a comfortable temperature and leave it there, often for months at a time. Using “setbacks” means turning down the temperature on the thermostat before bedtime and when you are away from home. A smart thermostat’s primary function is to automate these setbacks, so you don’t have to constantly reset the device. This also avoids running the air conditioning or heating when not needed, which of course saves energy and cash.
Who Benefits the Most from a Smart Thermostat?
Perhaps you have a programmable thermostat and don’t use it much, or keep your manual thermostat at a single temperature. If you fall into one of these categories a smart thermostat can save you more. However, you can still benefit if you’re constantly micro-managing the thermostat you have. A smart device reduces the work you need to do, which can be a substantial convenience.
A different Nest study found most participants felt more comfortable in their homes with a smart thermostat. Temperature control probably has much to do with this. A smart thermostat can also be used to run your ventilation fan so air can circulate on milder days. But also consider that you won’t have to remember to turn it down; temperatures are set automatically, and you can save money.
Is a Thermostat the Only Way to Save Energy?
Your home’s total energy usage is determined by many factors. A thermostat is just one of them but heating and cooling account for 47% of energy use on average, according to Connect4Climate. Washers and dryers use 13%, refrigerators use 4%, and electric ovens use 3% to 4%. At Wilshire Refrigeration & Appliance, we have the newest energy-efficient Sub-Zero, Wolf, and ASKO appliances and offer factory certified service, including maintenance and repairs.
To learn more about our services available in Los Angeles, Santa Barbara, Orange, Riverside, San Bernardino, and Ventura Counties, as well as Las Vegas, call us at 800-427-3653 or contact us online today.
