How much money can a smart thermostat realistically save during a heat wave?
Summary
Smart thermostats can help reduce electric bills during heat waves by cutting unnecessary air conditioning use, but savings vary. Most studies show people save about 10% to 15% on cooling costs, which can mean $15 to $22.50 saved in a month with high air conditioning use.Key Facts
- Heat waves are causing air conditioners to run almost continuously, raising electric bills.
- Smart thermostats aim to make cooling more efficient by reducing wasted use.
- Manufacturers claim savings of 8% to 26%, but independent studies find average savings closer to 10% to 15%.
- If half a $300 electric bill is from cooling, a 10% to 15% cut saves about $15 to $22.50 per month.
- Smart thermostats save money mainly by turning off or lowering cooling when no one is home or when people sleep.
- Larger savings occur if people previously kept the thermostat at the same setting all day.
- Smart thermostats cost between $100 and $300 before installation.
- Some homeowners can install the devices themselves, while others may need professional help, adding to the cost.
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