How a Smart Thermostat Can Help You Pay Less for Utilities

December 07, 2020

Keeping your Mount Pleasant residence comfy can require a lot of money. The average family spends about $172 on monthly heating and cooling costs, according to ENERGY STAR®, or around $2,060 annually. At least half of that is consumed by heating and cooling.

Most homes rely on programmable thermostats, but most people don’t bother to use them properly. The process is annoying, involved and only provides you limited options for temperature changes. When your residence remains at the same setting throughout the day, it requires energy and negatively impacts your monthly bill.

Smart thermostats pick up on your routine and change the settings to accompany it. But can installing one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Utility Bills

Independent studies show these devices can lead to major savings.

These studies used home utility costs in 41 states before and after putting in a Nest smart thermostat. Nest said the study showed its thermostats can save up to 12% on heating and 15% on cooling, producing an approximated savings of $131 to $145 each year.

With the average smart thermostat priced between $100–$250, those savings can help it pay for itself. And many local energy companies provide rebates for smart thermostats because they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is installed, you’ll initially set it just like any other thermostat. You’ll set it up and down, so the thermostat can learn about your needs. Then, it will start creating a program that helps you conserve more money, whether you’re at your house or out and about. Because it geofences with your smartphone, you won’t have to remember to adjust it when you leave or get back.

Pros and Cons of Installing a Smart Thermostat


As we talked about before, smart thermostats give lots of pluses to your home and energy expenses, such as:

  • No need to set—Your smart thermostat will adjust to your schedule, so you won’t be required to waste time setting programs or remember to change.
  • Knows when you come and take off—Because lots of smart thermostats geofence with your phone, your home will move into an energy-efficient setting when you take off and be comfy when you get back.
  • Remote temperature control—You’ll be able to see your residence’s temp from just about any location, thanks to an app on your phone.
  • Monitor heating and cooling use—Many smart thermostats give great data through their app, like how long you used heating and cooling on a specific day.
  • Reminders—Certain smart thermostats will alert you to critical maintenance tasks, such as when you need to change your air filter.
  • Added savings—Many local energy companies provide rebates for smart thermostats, so check with yours for more info.


In spite of that, there’s several points you should take into account regarding adding a smart thermostat in your house:

  • Compatibility—Subject to the type and age of your heating and cooling system, a smart thermostat might not function with it. If you’re unsure, it’s recommended to contact an HVAC pro like Olde Towne Heating & Air. We also advise having it professionally installed. This confirms that you have the proper number of wires and that it’s linked properly. Some systems don’t come with a common wire, which creates compatibility issues with a smart thermostat. This wire runs your thermostat, so if your residence doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your house and plan to live there for many years, it’s a good investment to install a smart thermostat. If you’re thinking about moving soon or rent, we advise waiting unless you will take the thermostat with you. If you rent, you’ll typically need to secure your landlord’s permission first prior to adding a new thermostat.
  • Cost—Smart thermostats are pricier than programmable thermostats, and we suggest having yours professionally installed. However, the energy savings over time can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone often at the house? If that’s your situation, you might not see as large of savings, but you’ll get the benefits of not being required to program or adjust a thermostat.

Rely on Olde Towne Heating & Air for Your Smart Thermostat Needs

At Olde Towne Heating & Air, our main purpose is to keep your home comfortable while helping you spend less energy expenses. If you’re wanting to install a smart thermostat, our specialists can help, from choosing the best model to expert installation. Give us a call at 843-485-0967 today to learn more.