Do smart thermostats really save you money?

Do smart thermostats really save you money?

The allure of smart home technology grows stronger and strong all the time, especially as devices become less and less expensive all the time. Smart thermostats, like Google’s Nest Learning Thermostat, were really what kicked off the entire trend, and they make an excellent addition to any tech-savvy home. They’re marketed as money- and time-saving devices, but do they really save you money in the long run? More importantly, if cost is the driving factor: do you really need one?

Here’s what to consider if you’re thinking about buying a smart home thermostat.

Upfront vs. long-term cost

Let’s answer the main question to start. Yes, a Wi-Fi thermostat will save you money on your yearly heating and cooling costs. In fact, you can save an average of 10% and up to 25%, depending on which thermostat you choose and how well you use it. Learning thermostats will “learn” your schedule and preferences over time and will create heating and cooling programs that fit, while maximizing efficiency and minimizing costs.

That being said, you can get similar results with a non-Wi-Fi programmable thermostat. The main difference here is how much control you have. With a smart thermostat, you can change the temperature in your home from literally anywhere in the world that you can find an internet connection. This can make a massive difference to your comfort, since you can have your home at a certain temperature by time you get home from work, for example.

When you factor in the upfront cost of a smart thermostat, which can be upwards of $300, depending on the model you choose, you may end up breaking even in your first year of use. However, over time, you will see savings. This will always depend on your usage and how effectively you use your device’s scheduling/learning capabilities.

Wants vs. needs

If you’ve decided to go ahead with the purchase of a smart thermostat, don’t just opt for the absolute best. While “you pay for what you get” is accurate when it comes to Wi-Fi thermostats, you don’t always need what that extra $100 to $200 gets you.

Opt for a thermostat that’s simple to use and ultimately easy to install. This cuts down on both the cost of the device and the cost of installation. It’s always best to allow a professional like Pyramid install your thermostat for you, since the chance for error and disruptions to your system are high if you’ve never done it before. Some smart thermostats may also require a different type of wiring than your current setup.

Pyramid can help!

Call or text 204-694-5088 or send us an email to have a Pyramid professional come and install your Wi-Fi thermostat for you. This way you can be sure it’s installed properly the first time with minimal interruptions to your system. Pyramid also performs all types of air conditioning, furnace, and HVAC repair in Winnipeg.