Will a Smart Thermostat Save Me Money on Utility Bills?

December 07, 2020

Keeping your West Columbia home comfy can require a lot of money. A typical family spends about $172 on monthly energy bills, according to ENERGY STAR®, or about $2,060 each year. At least half of that is for heating and cooling.

Most residences have programmable thermostats, but many people don’t bother to program them. The process is bothersome, involved and only offers you limited options for temperature changes. When your house is kept at an identical temperature throughout the day, it consumes energy and badly impacts your monthly costs.

Smart thermostats adjust to your day-to-day activities and regulate the temperatures to accompany it. But can having one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Reduce on Heating and Cooling Bills

Independent studies have determined these devices can result in large savings.

These studies involved home heating and cooling expenses 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, resulting in an average savings of $131 to $145 annually.

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

How Does a Smart Thermostat Work?

After your smart thermostat is put in, you’ll first set it just like your old thermostat. You’ll set it up and down, so the thermostat can learn about your desired settings. Then, it will start making a program that helps you spend less money, whether you’re at your house or away. As it geofences with your smartphone, you won’t have to put it on your list to adjust it when you go or return.

Pros and Cons of Installing a Smart Thermostat


As we covered before, smart thermostats provide many advantages to your residence and energy bill, including:

  • No need to program—Your smart thermostat will adjust to your activities, so you won’t need to spend time setting programs or remember to turn it up or down.
  • Knows when you come and go—Since lots of smart thermostats geofence with your phone, your residence will go into an energy-efficient setting when you leave and be comfy when you return.
  • Remote temperature management—You’ll be able to keep an eye on your home’s temp from virtually any location, on account of an app on your phone.
  • Monitor heating and cooling use—Most smart thermostats give detailed data through their app, like how long you required heating and cooling on a particular day.
  • Reminders—Certain smart thermostats will alert you to crucial maintenance tasks, including when it’s time to get a new air filter.
  • Additional savings—The majority of local energy companies provide rebates for smart thermostats, so check with yours for details.


However, there’s a few points you should take into account when thinking about getting a smart thermostat in your residence:

  • Compatibility—Depending on the type and age of your heating and cooling system, a smart thermostat might not work. If you’re unsure, it’s advisable to contact an HVAC professional like Tri City Fuel & Heating Co., Inc.. We also recommend having it professionally installed. This ensures that you have the correct number of wires and that it’s hooked up right. Some systems don’t come with a common wire, which leads to compatibility issues with a smart thermostat. This wire powers your thermostat, so if your home doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your residence and are planning to live there for a long time, it’s a good investment to get a smart thermostat. If you’re planning to move shortly or rent, we advise waiting unless you will take the thermostat with you. If you rent, you’ll typically need to get your landlord’s permission first ahead of installing a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we recommend 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 regularly at the house? If so, you might not see as large of savings, but you’ll get the convenience of not having to program or adjust a thermostat.

Depend on Tri City Fuel & Heating Co., Inc. for Your Smart Thermostat Needs

At Tri City Fuel & Heating Co., Inc., our top goal is to keep your home cozy while helping you spend less utility bills. If you’re thinking about installing a smart thermostat, our pros can help, from selecting the ideal model to expert installation. Give us a call at 803-265-4208 today to learn more.