Wifi thermostat company’s claim they save you money, but is that true? And how much money can they save?
The basic idea behind saving money with a smart thermostat is that it makes your home comfortable when you are awake and home, and then turns down or off when you are away or sleeping. This way the thermostat is saving money by not spending electricity and gas when you won’t enjoy it. Obviously, you can do this with a manual thermostat too but just turning it up or down when you walk by. However a programmable or wifi thermostat has the advantage of making it the correct temperature before you get home or before you get out of your warm and cozy bed.
The Nest claims to save 10-15% annually or $131-145. The US Department of Energy says that homeowners save around 10% with a programable thermostat as opposed to a regular one. The assumption with these numbers is that you are putting a programmable or wifi thermostat in place of a non-programmable one. However, what is more common, is a programmable thermostat that is permanently in “hold” mode. Meaning no one has taken the time to program it and the homeowner is using it just like a manual one, turning it up and down based on how they feel that moment and then it stays that temperature whether they are home or not.
In fact, a study done in 2003 showed that 53% of programable thermostats were in hold mode, and therefore not saving any money or energy at all. Why? Because understanding and programing you thermostat is harder than manufacturers claim.
We have the solution for you, however. The Lennox iComfort S30 Smart Thermostat. It uses the GPS on your cell phone to detect when you are home or away. With it’s Schedule IQ you program it one time and it will adapt itself whenever there is a change in your routine. In addition, you can manually change the temperature and other settings from your phone, whether at work or from the comfort of your bed.
These are just a few features of this remarkable thermostat, but I mention them because they are the ones that will truly save you money. I speak from experience, however, when I say that having a wifi thermostat makes me and my home more comfortable. Our report we get from AEP each month tells me that my home is more energy efficient than the similar homes around me and my small utility bill makes me really happy. But I’m equally happy when I turn my furnace on from bed and my bedroom warms up while I’m still buried in my blankets. That luxury alone is worth the money of a wifi thermostat to me.