By Sofia Quaglia
Smart thermostats first hit the market in the early 2010s as a way to strategically cut your electricity bill while still keeping your home nice and cozy.
Brands claim up to 26 percent savings on heating and cooling bills. But some experts say that’s an overstatement. The Environmental Protection Agency, for instance, estimates approved smart thermostats can save households about 8 percent on bills, or about $50 a year. A few independent studies say the savings are probably even lower.
So, how much money and energy do smart thermostats really save? And what are the environmental benefits?
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Another problem seems to be human error.
A study published in 2022 compared data from 1,385 households, half of them with smart thermostats, and found no statistically or practically significant differences between the two categories.
“We were really surprised,” said Christopher Clapp, a professor of applied microeconomics at the University of Chicago who was one of the authors.
His take is that thermostat manufacturers do not factor in the way people use the devices in the real world. Having easy control might incentivize homeowners to meddle with the temperature more.