Will a smart thermostat save money?
Inquiring minds want to know! Will a smart thermostat save money? Can you really trim your energy bill with a smart thermostat?
Absolutely. And we did the data digging, so you don’t have to.
How will a smart thermostats save money? Let’s find out!
They learn how to reduce energy waste for you.
Wifi-connected smart thermostats use machine learning to understand when you’re home and what temperatures you prefer. Over time, they create a custom heating and cooling schedule that minimizes energy use when you don’t need it, making them far easier to use than a conventional programmable thermostat.
ENERGY STAR and the U.S. Department of Energy report that you can save an average of 8%-10% on your heating and cooling costs using a smart thermostat.
Translation: If your average energy bill is $150 each month, you could save $140-$150 in just one year. This savings would more than cover the cost of many smart thermostats on the market.
Programs like Smart Thermostat Rewards, offered by TVA EnergyRight and participating local power companies, can help you save even more.
Remote access prevents unnecessary heating and cooling.
Never say “Whoops! I did it again. I forgot to turn the air conditioning off.” Although a smart thermostat will learn your routines, you can still mix things up and adjust your settings anytime, anywhere using an app on your smartphone.
This kind of control prevents unnecessary energy use and even gives you the power to pre-condition (pre-cool or preheat) your home before you walk through the door. We call that a convenience and efficiency double-play.
Geofencing and motion sensors optimize efficiency and comfort.
If accessing an app sounds like too much work, rest easy: many smart thermostats use geofencing (based on your phone’s proximity to home) to detect when you’re away and when you’re on your way home and automatically adjust temperature settings for you.
Some also use motion sensors to determine which rooms are in use, prioritizing comfort in the spaces you’re occupying. This zoned comfort approach helps cut back on energy used to heat or cool unused areas of your home.
Make informed choices with the help of energy reports and usage insights.
Smart thermostats generate monthly energy reports that show how much energy you’ve used, how long your system ran each day, and how your energy use compares to other users. These reports may also offer suggestions for improvement.
Find even more ways to save on energy. Take a free DIY Home Energy Assessment today.
With a smart thermostat, comfort and convenience go together like biscuits and gravy.
It’s not just about cutting costs — smart thermostats also improve your home’s comfort and they’re easier to use than conventional programmable thermostats.
Personalized comfort
By learning your schedule and preferences, smart thermostats keep your home at the perfect temperature when you’re there—and scale back when you’re not. You don’t have to keep adjusting the thermostat throughout the day or deal with temperature swings.
Voice control and smart integration
Most smart thermostats are compatible with voice assistants like Amazon Alexa, Google Assistant, or Apple Siri. That means you can change the temperature without lifting a finger.
They may also integrate with other smart home devices, like lights or security systems, for a seamless, connected experience.
How much do smart thermostats cost?
The cost of a smart thermostat generally ranges from $100 to $300, depending on the features and brand. Some utility companies offer rebates or incentives for installing ENERGY STAR® certified smart thermostats, which can lower the upfront cost considerably.
You can shop for and compare smart thermostats on the EnergyRight Marketplace. If you’re thinking about joining Smart Thermostat Rewards (and your local power company is participating in the program), and you have questions about the program, you can find the answers here.
Are smart thermostats worth it?
Note: Features may vary depending on the make and model of your thermostat. Not all local power companies participate in the TVA EnergyRight Smart Thermostat Rewards program.
Smart thermostats offer a powerful combination of energy savings, personalized comfort and modern convenience. With the ability to reduce heating and cooling costs by 10% or more, they’re a smart upgrade for anyone looking to lower their energy bills without sacrificing comfort.
Will a smart thermostat save money? Our research points to “YES.” Whether you’re tech-savvy or just looking for a set-it-and-forget-it solution, a smart thermostat can be a key player in your home’s energy efficiency strategy.
