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Can a Smart Thermostat Save you Money?

Can a Smart Thermostat Save you Money?

The energy profile of your apartment, home, or business is always unique. Factors like the square feet of your space, the number of appliances and how often you used them, all contribute to the cost of your electric bill. However, this doesn’t mean that there aren’t ways to reduce this cost. The use of smart technology and daily changes can both make a difference on your pocket and the environment.

What is a smart thermostat?

A smart thermostat is a small device that can be controlled remotely with an App or any other internet connected device. It allows you to schedule your settings to predetermined temperatures and manage the device even when you’re not onsite.  A smart thermostat can also be connected to an existing alarm system and be controlled from the alarm panel.

Honeywell Smart thermostat panel

How to choose a smart thermostat

There are many smart thermostats brands to choose from. If you already have an alarm system in place, the best option is to contact your security company and inquire about their recommendations. Most of the time, they will know which brands and models are compatible with your system. Additionally, it will save you the time of searching for this information yourself.

If you don’t already work with a security company, this article Best Smart Thermostats of 2021 from the Consumer Reports website might be helpful. The report includes brands like Ecobee, Honeywell, and Google Nest.

How to Manage your Home Device for Best Results

If your main goal is to save money on your home electric bill, you’re on the right track. A smart thermostat will help you reduce energy costs by giving you flexibility to manage your device from an app. The settings have a schedule function that you can use to set the thermostat at a predetermined temperature during different times of the day. Controlling your smart thermostat from the app also means that you don’t have to be at home to manage it. This can be especially helpful on days when the weather in Chicago is expected to reach extreme conditions.

Save 10% on your home electric bill by following this rule

If you want to decrease your electric bill by up to 10%, you’ll need to adjust the thermostat temperature to 5 -7 degrees of your normal temperature setting for 8 hours a day. For example, if during the summer you usually set it up at 70 degrees, you can increase it to 75 from 8:00 a.m. to 4:00 p.m. when you’re usually at work or during the weekends when you’re out and about. Once you’re getting ready to go back home, decrease the temperature via the app and arrive to a cool home.

Smarthome device

Additionally, since many people have been working from home during the pandemic and expect to continue to do so, one better option is to look for smart thermostats with multiple zones capabilities. This system allows you to set up different temperatures in different zones of your home; which is an ideal fit when you’re spending many hours in your home office.

How to Maximize the Use of a Thermostat in a Commercial Space

Commercial spaces require the same if not more attention to detail than residential homes. Take for example one of our long-time clients who owns a restaurant in the Edgewater neighborhood. They contacted VinTech Systems to install smart thermostats after experiencing a surge of 30% on their electric bill. The restaurant had recently reopened their indoor dining area, but it was still an elevated shift for such a short term. Upon discussing the change with the restaurant’s manager, the owner realized that most employees had forgotten to turn down the room temperature in the kitchen and front area, and before closing the restaurant at night.

In the past, VinTech had offered smart thermostat technology, but at that time, the restaurant owner didn’t think it was necessary as she was often on site. Fortunately, VinTech had already upgraded their Honeywell alarm to be compatible with the 4G network. This meant that if they now decided to install a smart thermostat, they could use a system of the same brand and simply connect it to their existing alarm system.

The restaurant owner now manages the thermostat remotely and immediately saw a decrease of 15% in their electric bill the following month after installation..

What additional steps can you take to reduce your electric bill?

In addition to installing a smart thermostat, we have found these simple tasks to be effective to reduce energy costs:

  1. Turn off appliances when not in use to extend their life and decrease the cost of replacements. Unplugging also helps and you can reduce the time dedicated to this task by using smart power strips.
  2. Switch your lightbulbs to LEADs. They have a longer life and will save up to 80% more energy.
  3. Install efficient showerheads. They don’t only reduce the cost of energy but help by filtrating water.
Final Thoughts

Installing smart thermostats at your home or business can help decrease your electric bill and save you time when you use the schedule settings to set up predetermined temperatures. If you are unsure about how to start as there’re so many options out there, call us today at 773-388-1208. We are here to answer any questions.

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