Do Smart Thermostats Really Save Money?

Man changing thermostat setting happily

There are a variety of ways to reduce our energy bills and one method is to install a smart thermostat. Many of these devices have the capability to be controlled by an app and make changes remotely, or even install sensors that can determine when you’re at home or away as well as monitor different areas of your home at once.

But do smart thermostats really save money? This is a highly debated topic that has some strong opinions on both sides and we hope to provide some helpful insights here to answer this question once and for all.

Different Types of Smart Thermostats

Smart thermostats come in an array of designs. Popular models, such as Ecobee, help reduce energy usage by up to 26% and come with Wi-Fi enabled technology to allow you to adjust your thermostat settings while you’re away from home. The simplified touchscreen of the thermostat also provides easy access to change your preferences without the hassle of a complicated interface.

Additional models use geofencing to determine whether you are out of the house and then decide if the temperature needs to be turned down or not. Technology aside, do these smart thermostats really save money? The statistics point to yes.[1]

Thermostat save money

How Much Money Can a Smart Thermostat Save?

Consider that for every degree Celsius that you lower your thermostat at nighttime, or when you’re not at home, you can save upwards of 2% off your bill. That may not seem like much, but it can really add up over the span of a year. Now imagine being able to set these levels and not have to worry about ever changing them.

Using a smart thermostat can save you money if you train it to. You still have to be the one to set it to the most efficient settings depending on the season, but once you do so, you won’t have to worry about readjusting it constantly to stay comfortable. [2]

In this way, smart thermostats can not only save you money but they can offer you piece of mind while helping you to be eco-friendly too.

Get more of your heating and cooling questions answered by contacting the professionals at Advantage Airtech ClimateCare.

[1] Bogart, Nicole. Can Smart Thermostats Really Help Save Money on Your Energy Bill? Global News. May 1, 2016. Avalable online https://globalnews.ca/news/2670317/can-smart-thermostats-really-help-save-money-on-your-energy-bill/.

[2] Controlling the Temperatures in Canadian Homes. Statistics Canada. Available online https://www150.statcan.gc.ca/n1/pub/16-001-m/2008006/5212652-eng.htm.