During the last few years, smart thermostats have gone from being a novelty gadget to becoming one of the home essentials.
Those considering installing one in their home must be wondering whether installing a Nest thermostat is worth it?
Nest thermostat will save you money by reducing your energy bill by 10% to 12% on heating and up to 15% on cooling. The manufacturer estimates Nest saves $131 to $145 per year, based on average electricity prices. This means that the smart thermostat pays for itself within two years.
In addition to explaining how Nest saves money, this article will explain how to keep your home at the top end of the smart thermostat savings range.
How Nest Saves You Money
The average American household spends over $900 on heating and cooling every year.
Smart thermostats are capable of reducing spending by a significant chunk.
Google Nest is one of the best and most popular options for those looking to improve their home’s energy efficiency.
Here are some of the ways that this piece of technology saves us money in the long run:
Machine Learning
Newer Nest models such as Nest Learning Thermostat and Thermostat E have a built-in learning function.
This function allows the device to follow your schedule and habits and adjust the temperature accordingly.
The smart thermostat will create a record of your daily routine during the first few days.
This is why it’s important to reduce the heating or cooling intensity when you’re off to work or going to bed.
Remember that the Nest never stops learning, so it’ll need to be adjusted if you want it to keep up with your schedule changes.
Auto-Away Function
If you’re one of the many people who keep forgetting to turn down the thermostat when leaving their home, Nest’s got your back.
The Auto-Away function that comes with the device can detect when there’s no one home and adjust the temperature accordingly.
Using the Nest’s activity sensor and the connected phones’ locations, this impressive money-saving feature works even when the thermostat is placed in a low-traffic area.
Monthly Reports
Nest will send you monthly reports by default. This feature is another convenient tool in this widget’s arsenal of energy and money-saving features.
The Nest Home report is sent out during the first two weeks of each month.
It includes detailed information about your home’s heating and cooling energy use.
It even has a month-to-month comparison chart that helps you keep track of any spikes or savings in the energy consumption department.
In case your Nest thermostat recorded a significant increase in energy efficiency, your report will include Kudos.
The report can even use Alerts to warn you of increased energy use or if your furnace is not working properly.
The Nest Leaf
If everything that surrounds the Nest thermostat and potential savings seem a bit too complicated, there’s a simple way this smart device helps your home be more energy-efficient.
Nest Leaf is the thermostat’s built-in energy conservation assistant.
During the first few days of use, the Leaf icon will be permanently on the screen.
This means that the device is learning your habits.
After that, the Leaf icon will show up to let you know when the temperature setting is actually saving energy.
The Nest Leaf will always be on the thermostat’s screen when the temperature is set to 62 °F (16.5 °C) for heating.
Setting Up Nest for Most Savings
There are over 33 million homes with smart thermostats across the US and Canada.
This piece of data alone should be a clear indicator of how effective these devices are.
Still, plenty of users are unaware of how to improve their home’s energy savings even further.
The next section of this text is dedicated to explaining all of the aspects and settings of the Nest thermostat you should try.
Follow the Nest Leaf Tips
The Nest Leaf feature is an easy way to know whether you’re saving energy.
The use is simple; your home’s energy consumption is lower as soon as the leaf icon shows up. The more you see the green leaf, the more you’ll save.
Avoid Setting the Heating and Cooling to Extreme Temperatures
We’re all tempted to crank up the AC during the summer or the heating during winter.
This habit comes from a false belief that a lower or a higher temperature will cause the house to cool down or heat up faster.
However, choosing these settings will force the heating/cooling system to work harder than necessary, therefore consuming more energy.
In addition, cranking up the AC or heating will make Nest remember these settings as your preferred ones, making things worse in the long run.
Therefore, setting the temperature to your standard preferred setting is recommended.
Choose the Right Eco Temperature Setting
Once the Auto-Away feature kicks in, Nest will automatically switch to the Eco Temperature mode.
The models without the Auto-Away function still have an Eco Temperature setting.
For this reason, choosing an optimal temperature that will reduce energy-wasting is highly recommended.
Keep in mind that the Eco Temperature shouldn’t be significantly different from the usual temperature setting.
Keep it just a few degrees below your typical setting during winter and a few degrees above in the summer.
This way, your home HVAC system doesn’t need to work extremely hard when you get home.
Adjust the Temperature by 1 °F (0.5 °C)
Adjusting your preferred temperature by just a degree can lead to incredible electricity savings.
This change will not only save you money, but it’ll also be barely noticeable physically.
Lower the temperature by 1 °F (0.5 °C) in the winter, and increase it by the same number during summer. The savings effect will be noticeable immediately.
Turn the Nest Thermostat Off While You’re Away
Turning off the Nest thermostat while you’re at work is another setting you should take advantage of.
Best of all, you’ll only have to do it for a few days before the intelligent thermostat learns and starts shutting down on its own.
It’s even more important to choose the Off mode when you’re off for an extended period.
Will a Nest Thermostat Save You Money? Conclusion
Smart thermostats are a convenient part of any modern home. Devices such as Nest will not only make your life easier, but they will also help you save money on electricity.