Will A Smart Thermostat Save Me Money?

Smart products are gradually but steadily finding their way through North American homes. Most of these products strongly emphasize features that can make your everyday life easier, safer, or less expensive, preferably a mix of all three. The simplicity of smart products is apparent, so how can a smart home product save you cash? Let's look more closely at smart thermostats, how much cash they can save you, and how they do it.

What is a Smart Thermostat?

Smart thermostats are programmable thermostats that connect to the internet – most have Wi-Fi capabilities, but others use a different hub for connectivity. This feature allows you to monitor the thermostat via smartphone apps or web interfaces, which is much more convenient than programming a conventional programmable thermostat!

They can integrate learning algorithms to assist you in creating the most effective schedules. Finally, smart thermostats are making full use of the emergence of smart assistants, allowing you to regulate your thermostats and heating schedules using voice commands.

How Can a Smart Thermostat Help You Save Money?

Smart thermostats don't have any magical abilities whenever it comes to saving you cash. When you get down to the basics of this matter, it's very straightforward: heating a room necessitates the use of electricity. The energy required is determined by how warm you want your room(s) to be and how long you want them to stay at that temperature.

How They Work

Smart thermostats reduce costs by maintaining the lowest possible temperature as long as necessary. Generally, you insert your preferred temperature and a schedule for the day. Based on these details, the thermostat ensures that your spaces are at the preferred temperature when you return home and saves as much electricity as feasible whenever you are out. Smart thermostats are so much easier to use than traditional programmable thermostats, so you can use them more frequently and modify them as your routine changes.

Learning Functionality

Smart thermostats wouldn't be so smart if what they could do was only help you program schedules more effectively. They will also study your habits and assist you in creating schedules that conserve the most power. Most of them can detect if you're at home and out, thanks to geofencing capabilities or third-party integrations.

When you continue to use the device, they learn all about your preferences. These smart thermostats gain a greater understanding of your whereabouts over time and make recommendations for further improving your schedule.

Based on the historical info from your own house and outside temperature, they learn the time it takes to warm up your space to the preferred temperature. This means they'll be able to extend the length of the energy-saving mode if you're away or sleeping.

How Much Money Can You Save From a Smart Thermostat?

This is a complex question to address because it is dependent on a variety of variables such as your existing heating system, your area, the size of your spaces, and your habits. First, let's define some fundamentals: heating your house accounts for up to 60 percent of your overall energy bill.

Small Wins

It is critical to understand that a smart thermostat will only save you money within your set parameters. This is a game with small wins, and several small wins add up to significant energy savings. You can save 2% on your electricity bill per degree Celsius if you reduce the temperature across 8 hours. This does not seem to be much but consider the following scenario.

Say you leave your house every day for about 9 hours and sleep for 7 hours. Lowering the temperature by 8 ° C. throughout the day and 4 ° C each evening would save you approximately 18 percent on your energy costs.

Not Every Home Is the Same

Total savings vary depending on the case, and it is impossible to provide an estimation that is appropriate for any homeowner. However, there are certain situations or instances where smart thermostats are particularly useful.

  • •Energy savings would be greater in homes with different thermostats regulating multiple heating areas (think rooms or even floors), so you have more control over which spaces are heated. For instance, when you have a visitor, you don't need the guest room heated as your own.
  • •The greater your power costs, the more you can benefit by using a smart thermostat because any percentage you save equals a greater sum of cash.
  • •The colder the weather, the more power you can save by decreasing the temperature throughout the day or evening.
  • •Smart thermostats are ideal for holiday homes, cabins, and cottages because they allow you to turn off (or reduce) heating while you are not present. You should also begin heating your holiday home prior to your arrival so that you can remove your jacket before you reach the house.

Many of the same advantages can be obtained with a standard programmable thermostat, but it requires a ton of effort. Lest you are very diligent about changing your programmable thermostat's temperature settings and schedule, smart thermostats will make a lot of financial sense for your pockets. Contact us today to achieve an energy-efficient and comfortable home.