How Much Can Smart Thermostats Save?

19 minutes read

Smart thermostats are innovative devices that allow you to control your home's temperature remotely, adjusting settings based on your preferences and schedules. These devices claim to not only provide convenience but also save on energy costs. The question then arises: How much can smart thermostats actually save?


When it comes to energy savings, smart thermostats can make a difference. By learning your heating and cooling patterns, these thermostats can optimize temperature settings for efficiency. They may automatically adjust when you're away from home, reducing energy consumption during those times. Additionally, some models utilize geofencing technology to detect when you're nearing home, so they can start heating or cooling in advance.


Estimates suggest that smart thermostats can save homeowners an average of 10-15% on heating costs and 15% on cooling costs annually. However, savings can vary based on factors such as local climate, insulation quality, and individual user behavior. Some users have reported even higher savings, particularly if they actively engage with the thermostat's features and make use of energy-saving settings.


The potential for savings is not limited to reducing energy consumption during your absence; smart thermostats also offer features like temperature scheduling and fine-tuned control, allowing you to set preferences for different times of the day based on your routines. This capability further improves energy efficiency and ultimately saves costs.


However, it's important to note that the extent of energy savings largely depends on user behavior and engagement. Making use of the device's capabilities, actively programming schedules, and optimizing settings can lead to higher savings. Regularly monitoring energy use through the smart thermostat's accompanying app can also help identify patterns and make necessary adjustments.


While smart thermostats have the potential to save you money, it's important to consider other factors as well. The upfront cost of purchasing and installing a smart thermostat, although becoming more affordable, should be taken into account. Additionally, if you live in a small apartment or if your home's insulation is already efficient, the savings may not be as significant.


In conclusion, smart thermostats can indeed save homeowners money on their energy bills. By optimizing temperature settings, learning user behavior, and providing energy-efficient features, these devices can potentially reduce annual heating and cooling costs by an estimated 10-15%. However, individual savings may vary depending on factors such as climate, insulation, and user engagement with the thermostat's features.

The Best Smart Thermostats for 2024

1
ecobee New Smart Thermostat Enhanced - Programmable Wifi Thermostat - Works with Siri, Alexa, Google Assistant - Energy Star Certified - Smart Home

Rating is 5 out of 5

ecobee New Smart Thermostat Enhanced - Programmable Wifi Thermostat - Works with Siri, Alexa, Google Assistant - Energy Star Certified - Smart Home

  • Save up to 26% per year on heating and cooling costs. ENERGY STAR certified. Automatically adjusts the temperature when you’re away to never heat or cool an empty home. Compared to a hold of 72°F.
  • Enjoy comfort without compromise. Smart Thermostat Enhanced preheats or precools your home before you arrive, so it’s the perfect temperature the moment you walk in. Automatically adjusts to your desired temperature when you’re home or sleeping to keep you comfortable day and night. Adjusts the temperature to account for humidity so your home always feels like the temperature you’ve set.
  • Easy to install and use every day, ecobee Smart Thermostat Enhanced comes with everything you need for installation. Most people install it themselves in about 45 minutes or less. Use your smart home platform and the ecobee app to control your thermostat from anywhere with your smartphone, tablet, or Apple Watch.
  • ecobee Smart Thermostat Enhanced is made with quality materials and designed to last on your wall for over a decade. It’s hardwired so you never have to worry about losing control or replacing batteries. If you run into problems, our dedicated support team is available 7 days a week.
  • Add in a SmartSensor which allows you to measure the temperature in rooms that matter most, like the nursery or bedroom. It reads temperature and movement in whatever room it is placed in for complete home monitoring and energy savings (SmartSensor sold separately).
  • Compatible with most 24VAC HVAC systems: furnaces, ACs (2H/2C), heat pumps (2H/2C + 2 stage AUX), boilers, PTACs, and fan coil units (3 fan speeds). Includes Power Extender Kit for C-Wire-less homes, ensuring easy installation.
2
Google Nest Learning Thermostat - Smart & Programmable for Home - 3rd Generation - Works with Alexa - Mirror Black

Rating is 5 out of 5

Google Nest Learning Thermostat - Smart & Programmable for Home - 3rd Generation - Works with Alexa - Mirror Black

  • Programmable smart thermostat that learns your schedule and the temperatures you like and programs itself to help you save energy and stay comfortable
  • Home/Away Assist automatically adjusts itself to an Eco Temperature after you leave, so you don’t heat or cool an empty home; remote control lets you change the temperature from anywhere on your phone, laptop, or tablet[1]
  • With Energy History, just check your phone to see how much energy you used and why, or use Quick View on the display to reach Energy History, settings, or your schedule; the Nest Leaf appears when you choose a temperature that saves energy
  • Smart thermostat with HVAC monitoring, which looks out for your heating and cooling systems; sends an alert if something doesn’t seem right, along with helpful reminders to make maintenance easier[2]
  • The Nest Learning Thermostat works with the Nest Temperature Sensor (sold separately) to help make sure a certain room is the exact temperature you want it to be
  • Beautifully designed, with polished metal finishes and bright, high resolution display; Farsight shows you the temperature, weather, or time on your thermostat when you walk in the room
  • It’s easy to install your thermostat, typically in 30 minutes or less, with everything you need included in the box; compatible with 95% of heating and cooling systems
  • Google Nest Learning Thermostat (Stainless Steel) with a Google Authenticity Seal
  • Nest Renew makes it simple to support clean energy right from home; it works with your Nest Learning Thermostat[6] to help you automatically prioritize your usage[7] to times when energy is cleaner or less expensive
  • Please refer to the product description section below for all applicable legal disclaimers denoted by the bracketed numbers in the preceding bullet points (e.g., [1], [2], etc.)
3
Amazon Smart Thermostat – ENERGY STAR certified, DIY install, Works with Alexa – C-wire required

Rating is 4.8 out of 5

Amazon Smart Thermostat – ENERGY STAR certified, DIY install, Works with Alexa – C-wire required

  • Smart upgrade - Amazon Smart Thermostat is an easy way to switch from a traditional thermostat and help reduce energy usage.
  • Save money - After purchase, Amazon will send you an email with details about rebates that may be available from energy providers in your area. Explore rebates above.
  • Save energy - According to EPA estimates, ENERGY STAR certified thermostats save an average of $50 on yearly energy bills.
  • Automatic comfort - Alexa can do the programming for you, updating the temperature to keep you comfortable.
  • On-the-go control - Let Alexa set the temperature, or set it yourself from anywhere with the Alexa app.
  • You can do it - The Alexa app will guide you through the installation process, but customer service is always available.
  • Reliable - Made with Honeywell Home Thermostat Technology and backed by 130 years of experience.
4
Google Nest Thermostat - Smart Thermostat for Home - Programmable Wifi Thermostat - Snow

Rating is 4.9 out of 5

Google Nest Thermostat - Smart Thermostat for Home - Programmable Wifi Thermostat - Snow

  • ENERGY STAR certified smart thermostat for home that helps you save energy and stay comfortable.Product note: You can also check your system’s compatibility before purchasing a Nest thermostat with our online Nest Compatibility Checker on the Google Nest support page.Connectivity Protocol : ‎Wi-Fi.Connectivity Protocol : ‎Wi-Fi
  • The Nest Thermostat is designed to work without a C wire in most homes, but for some systems, including heating only, cooling only, zone controlled, and heat pump systems, you’ll need a C wire or other compatible power accessory. Lock feature: No
  • Nest Thermostat turns itself down when you leave, so you don’t waste energy heating or cooling an empty home; easily program an energy efficient schedule in the Google home app on your Android or iPhone
  • Remote control lets family members change the thermostat temperature from anywhere on a phone, laptop, or tablet[1]
  • Savings Finder looks for more ways your thermostat can help you save, and suggests tweaks to your schedule in the app; check with your energy provider to learn more about rebates and more ways to save on a Nest thermostat
  • Smart thermostat with HVAC monitoring, which looks out for your heating and cooling systems; sends an alert if something doesn’t seem right, along with helpful reminders to make maintenance easier[2]
  • It’s easy to install your thermostat, typically in 30 minutes or less, with everything you need included in the box; it’s compatible with 85% of heating and cooling systems
  • Control the temperature with your voice using smart home devices that work with Google Assistant or Alexa[3]
  • Nest Renew makes it simple to support clean energy right from home; it works with your Nest Thermostat[5] to help you automatically prioritize your usage[6] to times when energy is cleaner or less expensive
5
New 2023! Honeywell Home RTH8800WF2022, T5 WiFi Smart Thermostat, 7 Day-Programmable Touchscreen, Alexa Ready, Geofencing Technology, Energy Star, C-Wire Required

Rating is 4.9 out of 5

New 2023! Honeywell Home RTH8800WF2022, T5 WiFi Smart Thermostat, 7 Day-Programmable Touchscreen, Alexa Ready, Geofencing Technology, Energy Star, C-Wire Required

  • High use of the scheduling feature of the T5 thermostat saved customers between 8 and 16% on heating and cooling bills. Dollar savings range based on nationwide average annual single-family detached home's heat and cooling bills; actual savings varies based on consumption.
  • Save Energy and Get Rewarded. Check with your energy provider about available energy savings rebates to save on your purchase. Plus, eligible customers can enroll in their local Utility's "DEMAND RESPONSE PROGRAM" which can reward you for allowing the utility to slightly adjust your AC or furnace temperature settings when there is high energy demand.
  • 7-Day Flexible Scheduling or Location Based Temperature Control. It’s your choice. 7-day scheduling programs your thermostat. Geofence technology helps make you comfortable by using your smartphone’s location to know when you’re away and when you return.
  • Auto Home and Away Mode. Enjoy ideal temperatures at home, then save when away.
  • ENERGY STAR certified. Help save energy, track your heating and cooling with monthly energy reports and get personalized tips on reducing energy use.
  • C-WIRE POWER ADAPTER REQUIRED: Before purchasing, check to see if this thermostat is compatible with your home and to determine if your home needs a C-wire power adapter.
  • Works with most heat/cool oil furnace systems. Will not work with heating only oil furnace systems unless a C-Wire is present.
6
Emerson Sensi Wi-Fi Smart Thermostat for Smart Home, DIY, Works With Alexa, Energy Star Certified, ST55

Rating is 4.9 out of 5

Emerson Sensi Wi-Fi Smart Thermostat for Smart Home, DIY, Works With Alexa, Energy Star Certified, ST55

  • PRIVACY PROTECTION*: Sensi won’t sell your personal information to third parties
  • SAVE ABOUT 23% ON HVAC ENERGY*: The ENERGY STAR-certified Sensi smart thermostat can help you save energy with features like flexible scheduling, remote access, and usage reports
  • EASY DIY INSTALLATION: Use the built-in level and step-by-step app instructions for a quick installation. Works with HVAC equipment found in most homes. Common wire (c-wire) is not required in most applications
  • SMART MAINTENANCE: Sensi can help monitor the performance and efficiency of your HVAC system by delivering valuable usage reports, alerts about your equipment, and maintenance reminders like filter replacement
  • SIMPLE CONFIGURATION: Looks and feels like a thermostat. Has buttons and fits the same space as a traditional thermostat so you don’t have to patch and paint your walls


Are there any limitations to smart thermostat energy savings in older homes?

Yes, there can be limitations to smart thermostat energy savings in older homes. Some potential limitations include:

  1. Inadequate insulation: Older homes may have poor insulation, which can result in energy leaks. While a smart thermostat can help regulate temperature efficiently, it may not be able to compensate for the lack of insulation.
  2. Inefficient HVAC systems: Older homes may have outdated or inefficient heating, ventilation, and air conditioning (HVAC) systems. Smart thermostats can optimize the usage of these systems, but if they are already inefficient, the overall energy savings may be limited.
  3. Complex HVAC wiring: Older homes may have complex or incompatible HVAC wiring systems that may require professional assistance for installation and setup of a smart thermostat. This could add additional costs and complexity.
  4. Lack of compatibility: Certain smart thermostat models may not be compatible with older HVAC systems or may require additional accessories or wiring modifications. Ensuring compatibility between the two is important for optimal energy savings.
  5. Limited control options: Depending on the features and capabilities of the smart thermostat, older homes may not have all the necessary components or systems in place to take full advantage of the thermostat's energy-saving features, such as zoning or remotely controlling auxiliary devices like fans or humidifiers.

Overall, while smart thermostats can still provide energy savings in older homes, the extent of the savings may be influenced by these limitations. It is important to consider the specific characteristics of the home and consult with professionals to determine the most effective energy-saving strategies.


Do smart thermostats help to reduce greenhouse gas emissions?

Yes, smart thermostats help to reduce greenhouse gas emissions. These devices have features that allow users to control and optimize their home's heating and cooling systems more efficiently. They can learn and adapt to the user's schedule and preferences, adjust temperatures based on occupancy, and remotely control settings through smartphone apps.


These features enable users to better manage their energy consumption, leading to reduced energy waste and greenhouse gas emissions. By using a smart thermostat to regulate heating and cooling only when needed and at optimal temperatures, unnecessary energy usage can be minimized. The increased efficiency in managing energy consumption directly translates to reduced overall greenhouse gas emissions associated with home energy use.


Can smart thermostats save on cooling costs as well as heating costs?

Yes, smart thermostats can save on both cooling and heating costs. These devices are designed to optimize energy usage by automatically adjusting the temperature settings based on various factors such as occupancy, weather conditions, and user preferences.


During the cooling season, smart thermostats can help reduce energy consumption by allowing you to schedule and control the temperature settings of your air conditioning system more efficiently. For instance, you can set the thermostat to increase the temperature when nobody is at home or to lower it during the night when temperatures tend to be cooler. This avoids unnecessary cooling and helps conserve energy.


Moreover, smart thermostats often come with features such as geofencing, which uses the location of your smartphone to determine whether you are at home or away. This allows the thermostat to adjust the temperature settings accordingly, ensuring that your cooling system is not running unnecessarily when you are not home.


Additionally, many smart thermostats provide energy usage reports and recommendations, allowing you to monitor your cooling usage and make informed decisions to further enhance energy efficiency.


In summary, by providing greater control and automation, along with features like scheduling, geofencing, and energy monitoring, smart thermostats can help save on cooling costs as well as heating costs.


Are there any energy-saving features unique to smart thermostats?

Yes, smart thermostats offer several energy-saving features that are unique to their technology. Some of these features include:

  1. Learning capabilities: Smart thermostats have the ability to learn your daily routines and adjust temperature settings accordingly. They can detect when you leave the house and automatically lower the temperature to save energy. Similarly, they learn when you typically return and adjust the temperature to a comfortable level before you arrive.
  2. Geofencing: Many smart thermostats use geofencing technology to track your location through your smartphone. They can sense when you are leaving or approaching home and adjust the temperature accordingly. This helps prevent unnecessary heating or cooling of empty spaces and ensures comfort when you arrive.
  3. Remote control: Smart thermostats can be controlled remotely through smartphone apps. This allows you to monitor and adjust temperature settings from anywhere, enabling you to make changes based on your schedule. For example, if you forgot to adjust the thermostat before leaving home, you can remotely lower or raise the temperature to save energy.
  4. Energy usage reports: Smart thermostats provide detailed energy usage reports, letting you track how much energy is being consumed by your HVAC system. They also offer insights and recommendations on how to optimize energy efficiency, such as suggesting temperature adjustments or scheduling changes.
  5. Integration with other smart devices: Many smart thermostats can connect and communicate with other smart home devices like occupancy sensors, smart lighting, or smart blinds. This integration allows for a coordinated effort in energy-saving strategies. For instance, the thermostat can adjust temperature settings based on occupancy detected by the sensors, or it can coordinate with smart blinds to utilize natural sunlight for heating or cooling purposes.

These energy-saving features make smart thermostats an effective tool for optimizing energy consumption and reducing utility costs.

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