A lot of people looking to purchase an Ecobee thermostat often wonder, “Will Ecobee save me money?” We reveal if they do and how they can!
Yes, Ecobee can help a family using it save some money if it is properly installed with the right settings.
However, the amount saved due to reduction in energy bills and other discounts will vary depending on a number of factors. While the weather conditions in the area where the house is located, is the main factor which determines the amount of money saved, the size of the house, HVAC system installed, number of sensors used, insulation and occupancy of a house are some of the factors which affect the monthly savings
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4 Main Reasons How an Ecobee Will Save You Money
The energy bills are a significant part of the monthly expenses, especially for people living in areas with very high temperatures in summer, or extremely low temperatures in winter for extended periods of time. Depending on the size and design of the property, availability of utility supplies, the home may be using gas or electricity for heating and cooling.
Since they will have to invest some money in purchasing ecobee, a smart thermostat and installing it properly, they would like to find out if the money saved by installing ecobee is large enough to justify the additional investment in time and money. For this buyers should understand how ecobee can help in saving money, reducing utility bills.
1. Motion detection, empty rooms
One of the most attractive features of ecobee is that it can be connected to sensors which have motion detectors. These sensors will automatically detect if the room is empty or if there are people living in the room. If there is no one in the room, the heating or cooling system is automatically switched off, so that no energy is wasted for heating/cooling an empty room.
Even if the sensors are not installed, or not working, the home owner can switch off the heating/cooling system remotely using the app, which they have installed on the smartphone, when they are away from home to reduce energy wastage.
2. Doors/windows open
Often the door or window is left open, especially in families with young children who enter the house after playing or other activities. If the air conditioning or heating is switched on under these conditions, the energy consumption is usually very high, because the cooled or heated air will leave the house though the open window or door and additional energy is required for cooling the air remaining.
So the Ecobee has a feature which allows the home owner to keep the Heating Ventilation Air conditioning (HVAC) system switched off, if the window/door is open. When family members are aware that some door or window is open, they will first close it and then the HVAC system will automatically start for cooling or heating.
3. Rebates from utilities
Most of the utilities are encouraging people to reduce their energy bill to the extent possible and are offering incentives for implementing energy savings measures, since energy is often expensive. Depending on the area where the property is located and the local service provider, the home may have only an electric power connection or both gas as well as electric power connection.
Most utilities are aware that installing a smart thermostat like Ecobee, usually reduces the energy bill to some extent. So they are usually offering at least a one time discount on the energy bill, after the property owner, provides proof of installation of ecobee and other details required
4. Fans and HVAC system
Usually during summer, in some areas, the temperature is warm but not very hot, so in these areas, fans provide sufficient cooling. Since the energy consumption of fans is significantly less compared to air conditioners many families are installing a fan in every room.
So using ecobee, a family can automatically switch on the fans in a room if the temperature is not very high, and switch on the air conditioner only when temperatures are very high.
So this can help reduce the energy consumption to save money to a very great extent since the air conditioner is switched on only for shorter periods of time.
Factors Affecting Amount of Money Saved Using an Ecobee
The amount of money saved depends to a large extent on the weather conditions in the area where the home or other property is located.
If the temperatures during summer and warmer months are very high for longer periods like 3-4 months, the air conditioner remains switched on, the normal energy bill may be $600 per month for larger houses of area more than 1900 square feet.
Similarly, in areas where temperatures are around freezing point of water during winter for 100 or more days, the family will require more cooling and the energy bill will be also very high. So in these cases, the savings using ecobee will be substantial.
However in smaller houses, located in areas with pleasant weather conditions throughout the year, the energy consumption is less, so the saving due to ecobee installation is also lower.
Also some people are already implementing measures to reduce their energy consumption and do not require much cooling or heating, so they may not save much money installing ecobee.
Using Ecobees Detailed logs to Help Determine How Much Money You Will Save
Additionally home owners who install Ecobee get detailed logs of the energy consumption in their house, how much is actually used. So if they are planning to replace their HVAC system, the information provided by Ecobee can help them choose the appliance of the right capacity.
Usually the price of HVAC systems increases according to capacity, so a small capacity HVAC system is cheaper and more compact. They can also use the information to optimize their daily routine, spend more time outside the house, when weather outdoors is better and reduce the heating, cooling bill.
Will Ecobee Save Me Money? Conclusion
So finally to answer property owner’s question of “Will ecobee save me money?” Yes, they will save you money! However, buyers should be aware that while ecobee claims that property owners usually save up to 26% annually in energy bills, the actual savings depend on weather conditions, house size, appliances installed and preferred temperature settings.
Hence, Ecobee is recommended for larger houses with a higher energy consumption.
If you enjoyed this article, check out our “Why Does My Nest Say Airwave?” article here!