Can a Smart Thermostat Save You Money?

Aside from the cool factor (pun intended) associated with smart thermostats, one of the major attractions has been the perception that they can save you money by automatically adjusting the temperature dependent upon a variety of factors, such as whether anyone is home or not. All of the major smart thermostat manufacturers claim that lower energy bills are a benefit of using their products. What’s the truth behind this (admittedly reasonable) claim?

What the Makers Say

  • Ecobee – This manufacturer of the popular Ecobee3 claims that their users experience home energy savings averaging 23%, according to an analysis they conducted in 2013. Ecobee says it calculates this savings rate taking into account how long the equipment runs to in comparison to local climate conditions, using a median desired temperature of 72° as the reference point.
  • Honeywell – While the makers of the Lyric don’t make specific claims of percentage energy savings, they do have a nifty energy savings calculator that lets you enter your location as well as extremely detailed thermostat setting information based on the times you’re at home and how hot or cold you keep the house. The calculator then tells you the average savings you can expect from their WiFi-enabled programmable thermostats.
  • Nest – Nest Labs, the makers behind the popular Nest Learning Thermostat, actually put their money where their mouth is by publishing a white paper on the topic of energy savings achieved through the use of their products. The results? Average savings of $131-145 per year for heating and cooling. In addition, real-life Nest forum participants have reported energy bill savings of between $10-20 per month.

All of this translates to your smart thermostat paying itself off within about two years.

Variants

Of course, certain factors affect your particular level of energy savings. These can include:

  • Local climate – Your savings will obviously be more pronounced if you live in a place with both types of temperature extremes.
  • Seasonal variations – It’s been known to snow in August in the north, and hit 90° in January in the shallow south. You just never know.
  • Your home’s energy tightness – Your windows, doors, and furnace and air conditioner maintenance habits all make a difference in the savings you’ll see with more energy-efficient equipment.
  • Your energy usage habits – if you regularly set your thermostat at 80 in the winter and 60 in the summer, your comparative savings will probably be higher than others.

In the end, the proof is in the pudding. It’s highly likely that smart thermostats offer improved energy efficiency based on one fact alone – they can keep the HVAC from running when no one is home and adjust the temperature to a more affordable level on an intuitive basis.

Proper Installation

Whether you choose a Honeywell, Nest, or Ecobee smart thermostat, ServiceLive can connect you with just the right service provider to properly install your device. Don’t take chances on an installer chosen at random on the internet. ServiceLive has the reliability of the Sears name behind us (we are a wholly owned subsidiary of Sears Holdings) and not only ensure our contractors keep their customers happy but we also perform the background check, so you have absolutely no worries except which part of your smart home system to play with first.

Choose your equipment from your preferred retailer, or browse our extensive selection of respected brand names in the Sears Connected Solutions Store. Either way, ServiceLive can arrange your installation, from finding the right provider all the way through customer service if needed after the service call. Contact us today for your smart home needs.

Sources:

https://www.ecobee.com/savings/

http://www.androidcentral.com/nest-thermostat-pay-for-itself-under-two-years

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