Energy & Cost Impacts: Advanced Thermostats
Advanced thermostats typically cost between $150-500, with labor costs to install up to $200.
Different studies have shown varying savings depending on how the thermostats are used. Simulation studies indicate that setbacks of 1 degree Fahrenheit should save 3% of HVAC energy consumption (O’Leary 2012); and that setbacks of 7-10ºF for 8 hours per day can save 10% of HVAC energy consumption over a year (US Department of Energy (DOE) 2021). Google Nest claims to achieve savings of “10% to 12% on heating and 15% on cooling (https://nest.com/thermostats/real-savings/).
The current (2021) EnergyStar certification uses the term “Smart Thermostats” to denote those that are “independently certified to save energy” (US Department of Energy (DOE) 2022).