Due to the significant increase in fuel and heating prices, many people are looking for ways to save money. If you want to save money on utility bills, you should start by saving heat and electricity. Smart thermostat manufacturers advertise their devices as the best way to save money on heating your home.

However, many users wonder if this is really the case. First, you should understand how smart thermostats work and how much you can save by installing one. Also, a good question is how much such a thermostat costs and how long it will pay for itself.

How smart thermostat works?

First, you should understand how a smart thermostat works. There’s really nothing complicated here. You buy one and connect it to your heating system just like a normal thermostat. Different smart thermostats will work for different boilers and heating systems.

There are several of the most common brands of thermostats. I would recommend that you look closely at Google Nest thermostats. They can be part of a smart home system and will conveniently connect to other devices using Google servers. Of course, the thermostat will need a connection to your wifi so you can control it remotely.

A smart thermostat has a few extra features, it can track the presence of people in the house and control the room temperature itself. You can also track the history of your heating system and more. In short, this thermostat allows you to optimize the heating in your home without additional system modifications.

Is a smart thermostat really saving your money?

In short, yes. A smart thermostat can save you money. According to Google Nest, smart thermostats save UK customers 8.4% to 16.5% of their heating bill. Of course, this figure can vary depending on your settings and exactly how you use the thermostat.

A smart thermostat will be most effective if your schedule is unpredictable. The fact is that the main feature you should buy a smart thermostat for is the ability to track your movements. When it sees that you’re not home, it automatically lowers the temperature and reduces the cost.

On the other hand, if you know exactly what time you won’t be home, you may be better off buying a regular thermostat with a timer and setting it to lower the temperature when you will definitely be out. In this case, the smart thermostat will pay for itself for quite a long time and you will not use its full functionality.

What features does a smart thermostat have?

All thermostats have several universal functions that allow you to save money and are part of smart home systems. Of course, the number of functions will vary depending on the manufacturer and the cost of your thermostat. However, there is a set of features that most of these thermostats have in common.

The first thing they have in common is a special mobile application. All smart thermostats have this feature. The app will allow you to control the temperature in your home and adjust the heating schedule based on your needs. The thermostat can also use the app to track where you are via your phone to turn off the heating when you are not home.

Many thermostats also have motion sensors that help them detect if someone is home, even if your phone is outside the home area. These sensors can be paired with other smart home systems so that they all work in tandem.

Many thermostats are able to remember your schedule and learn. That way they can adjust to your schedule over time. They also analyze how quickly your home heats up, so they can turn on the heating in advance and have the right temperature for you when you arrive.

Read also:

• How to turn on the heat on Ecobee
• How to turn off Nest thermostat
• How to lock your Nest thermostat with a PIN code

How much smart thermostat cost?

If we talk about cost, it depends very much on the type of your device and its functionality. The price range between different smart thermostats is somewhere between $80 and $800. On top of that, you will also need to add in the cost of installing the thermostat.

For example, different models of Google Nest will cost anywhere from $125 to $250. However, you need to add another $100 to $200 for installation to that cost. Total your thermostat will cost you between $250 and $500 along with installation. These are mid-range devices.

Other than that, for additional savings, I would consider buying other add-ons for your smart home. Of course, it may not cost you much, but this way you will make your home as comfortable as possible and save a lot more in the long run.