Are Smart Thermostats Worth the Money?

Everyone wants to have the perfect temperature at home, but heating and cooling come at a cost. A standard thermostat turns your AC on and off based on the temperatures you set. Smart thermostats take it a step further with a range of features that automate temperature control. Traditional thermostats are affordable, while their modern counterparts cost a bit more. Many therefore ask, “Do thermostats save money”, as the price of equipment and installation is substantially higher.

What’s the Difference?

To help you understand cost vs. value, and whether calling your local electrical repair service for professional smart thermostat installation is worth it, here’s a look at how these two technologies differ:

1. Regular Thermostats: Controlling the AC and heater, a standard thermostat monitors temperature and signals your HVAC system to turn on. If the temperature drops lower than the set point, the heater will turn on. If it goes higher than the set point, the unit will turn on the AC. To use the thermostat, all you need to do is turn a dial or press a button or two.
2. Smart Thermostats: With a smart thermostat, you can control your heating and cooling system remotely. For example, you can turn on the AC as you leave work. You can program the unit based on your schedule, and some models will learn your schedule based on usage habits. Some track energy usage and even the weather to adjust indoor temperature accordingly.

Average Price of Smart Thermostat

Smart thermostats usually cost between $100 and $300. If you need professional installation, this will cost a few hundred dollars more, but most models can be installed easily in a few minutes. Prices vary by model, brand, and features. A Honeywell Lyric T5 Smart Thermostat costs about $109.18 while a Nest Learning Thermostat (Third Generation) sells for around $249.99. ¹

As far as saving money, that depends on your usage patterns, whether you need all the latest features, and how long it’ll take to make up the cost of your initial investment. Cost savings also depends on how well-maintained your HVAC system is and whether your home is properly insulated. According to Energy Star, a smart thermostat can save you $50 per year on heating and cooling bills.² Other estimates are higher.

Benefits

Depending on your needs and expectations, a smart thermostat can have many advantages. These include:

• Energy Savings: From precise control to features such as automatic adjustments to your schedule or sensing when you are away, a smart thermostat offers greater control over energy usage.
• Manual or Automatic scheduling: The thermostat can be operated manually or set to run in automatic mode, although there’s no point in the investment if you don’t use its features.
• Convenience: You don’t need to get up from your couch or bed to make it warmer or cooler. The temperature can be adjusted via a smartphone app and the unit easily links to your home Wi-Fi system.

Final Verdict

A smart thermostat will help you save by automatically adjusting to heating or cooling demand. It is most efficient when occupants are away for at least part of the day, as this is when it conserves energy. But there are many choices on the market. Whether a smart thermostat is worth it depends on your budget, preferences, and expectations; if it’s practical for your needs, affordable, and user-friendly, then the investment is worthwhile.

Contact Black Hills Inc. Home Services

Serving Olympia, Lacey, and Lakewood, WA, as well as surrounding areas, Black Hills Inc. Home Services can help with choosing and installing smart thermostats. We are trusted for AC/heating, plumbing, and electrical repair service and maintenance; and have been providing professional, timely service to area customers since 1993. To schedule a visit, request service online or call 888-884-6365 today.

Sources:

1. https://www.energystar.gov/products/heating_cooling/smart_thermostats/smart_thermostat_faq