Smart Thermostats Save Money

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Whether you’re a renter or homeowner, one thing’s probably for sure: paying bills suck. However, installing a smart thermostat could help ease the pain of the price you pay every month for heat and air conditioning. The thing is, smart thermostats save money because they are better at regulating the temperature in your home. If you’ve thought about installing this smart technology, then here’s what you need to know, plus some options that you can buy right now.

How much could a smart thermostat save me?

Nest, the company behind the Learning Thermostat that debuted back in 2011, found through research that their smart thermostat could save customers between 20 and 31 percent on heating and cooling costs. To put that in perspective, Energy Star says the average household spends about $2,000 per year on energy bills. So if a smart thermostat like Nest’s could save you 20 to 31 percent on those bills, then you could get $400 to $620 back in your pocket every year (in theory).

Now, that’s all just an estimate and it definitely depends on your location and energy usage every year. However, the Environmental Protection Agency still says that the proper use of a smart thermostat could save the average household about $180 per year. If you think about it, the $180 that you save could end up covering your annual Amazon Prime or Netflix membership.

How much do smart thermostats cost?

Smart thermostats save money, but only after you buy and install them. However, it could be totally worth the investment. Depending on how technologically advanced you want to go, you could pay anywhere from about $30 to $300. However, in the long run, that money could save you hundreds on your energy bills.

Here are a few options that you can buy right now if you’re ready to make the switch, all rated four or more stars on Amazon.