Smart thermostats can they really help save money on your energy bill?
More consumers are turning to smart technology to make their home more efficient and leading the smart home revolution are smart thermostats. But do they really help save money?
Energy bills are often painful to see especially after the long winter. This gives rise to smart home technology such as smart thermostats, which claim to be cost-saving and eco-friendly. Many people, however, are concerned about how much money such ‘smart technology’ can save and whether the investment is worthwhile.
Of course, smart thermostat manufacturers flaunt energy savings as a big selling point for their devices.
The Nest Learning Thermostat is perhaps one of the most talked about models on the market.
This particular model not only learns your schedule and helps to automatically adjust the temperature in your home throughout the day, it can adjust its settings depending on changes in the weather and learn specifics about your house and its energy consumption – whether it’s draftee or takes a while to warm up.
According to two independent studies and one internal study, the Google-owned company claims on average the Nest Learning Thermostat saved U.S. customers around 10 to 12 per cent on their heating bills.
Did you know that for every degree Celsius (1.8 F) you lower your thermostat at night or while you’re away – for a minimum of eight hours – you could save up to 2% on your heating bill? According to a research done by Nest, a smart thermostat can save between 2-10% of your energy bill, depending on how you are using your current thermostat.
“Smart technology is enabling automatic savings,” said Shuchi Roy, innovation director at Direct Energy.
“Life happens – but you now have temperature control at your fingerprints, encouraging those savings.”
Studies have shown that nearly 90% of people with programmable thermostats do not program them properly or at all because of their frustrating user interfaces. Smart thermostats can automatically adjust temperature to weather changes and your behaviour, which can significantly reduce your energy bill expense for those who do not adjust their thermostat often.
Smart thermostats can also promote greener living and added savings by offering visual cues and daily goals that tell users they are reaching their energy saving goals. Think of it like a fitness tracker for your home – positive reinforcement does work.
So while it seems that there are savings to be made, as well as helping the environment. It is not quite clear as to how much of a saving you could make.
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