Woman looking at thermostat app on phone

Technically, you could use any thermostat to save money on your utility bill. Turning your heat down in the winter will always save you money. But, what about being comfortable? You can have both. Smart thermostats, such as the Ecobee smart thermostat, can save you money without reducing your comfort. That’s why, if you ask how to reduce heating and cooling costs, the experts will recommend that you get a smart thermostat installed.

Smart Thermostat Savings

Several studies have been conducted on exactly how much money you can save by installing a smart thermostat. Nest’s study concluded that homeowners save an average of 10-12% on heating costs. Plus, in the summer they save an additional 15% on air conditioning.

Another study, conducted by Ecobee for their smart thermostat, found a greater savings of up to 23%. This study was based on homes that were previously set to 72 degrees Fahrenheit, or 22.22 degrees Celsius. If you set your temperature higher in the winter or lower in the summer, you should see even more savings. And 23% is fairly significant savings already. There are few essential bills in life you can reduce substantially.

Man setting thermostat with smart watch

How Do Smart Thermostats Save You Money?

Where is your smart thermostat finding all those savings? Simply in using less energy when and where you don’t notice it. For many people, this will mean that your thermostat lowers the temperature of your home when you’re at work, and then gets it ready before you walk in the door. You’re always greeted by the perfect temperature that you set, but your home didn’t waste energy all day keeping it there.

It is actually much more efficient to keep the home at a temperature closer to the outdoor temperature during the day. In winter, for example, the cooler the home is, the slower it loses heat to the outside. So, the furnace has to produce even less heat. The same thing is true of a warmer house in the summer.

Also, you don’t need to worry about when you should turn the heat up or down, or how to schedule your temperature recovery before you get home. The whole point of a smart thermostat is that it is smart, and it does all of that work for you. They connect to your phone and/or vehicle and can know when your home and not. Once they learn your habits, they will automatically help you save the most money possible—within your own comfort levels. Those who are willing to be a little less comfortable will save more, but even those who balk at changing the thermostat by a degree will get some benefit from a smart thermostat.

If you’re ready to get a smart thermostat for your home, or you have more questions about them, reach out to the team at Lambton Climate Care today.

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