How The Nest Thermostat Saves Money?

Which is the best smart thermostat that can be found out there right now on the cheap? Well, times have changed, and it’s not like a few years ago when Nest owned the game completely. So much has changed and I’m here to tell you all about that.

According to the Nest savings calculator, they estimate how much money one can save when they use the Nest Learning Thermostat’s energy efficient features.

On average the NestLearning Thermostat saves the  US customers about 10-12% on their heating bills and about 15% on their cooling bills every year.

There are many different options. If you are trying to figure out which is the best smart thermostat on the cheap, then that may mainly depend on your situation. How many zones there are in your home, etc.

Hopefully, you will get a lot of help from this guide, and it will help you to make your final decision. I will be updating information here regularly so that you have all the latest news.

What is a Smart Thermostat?

They are sometimes referred to as Wi-Fi thermostats while other people refer to them as smart thermostats. Home automation changes the way the way homes on the planet are controlled.

Smart thermostats allow you to change the temperatures in the home when you aren’t there yourself from the comfort of your smartphone.

Whether you are on vacation on the beach or at work and you would like to check the temperatures of your home. You may want to consider using smartphone thermostats.

Why should you buy Nest thermostat on the cheap?

There are many reasons why you should get a smart thermostat to save you money. This makes sense fo anyone. Mainly, from the standpoint of cost saving which I’m going to delve into in this article.

If that’s not a reason enough to get into it though, then you should consider convenience factor. You can check the temperatures of your home from anywhere and change them when you’re not in the home from the comfort of your smartphone.

This smartphone-controlled thermostats can learn the schedule of your day and can drop and raise the temperatures. This makes them extremely energy efficient on day to day basis.

If you’re like me then probably you’ve left the AC running all day long while you are away. The good news is that you can set up geofencing and it’ll automatically turn off when you leave the house.

Though smart thermostats are easily installed, there are still many heating companies out there that can do the task for you (for free in some cases), or they would give you a better rate because you have installed one. So you may consider checking your local provider to find out what kind of deals they have.

Are Smart Thermostats worth the cost?

A simple answer to this is YES! They’re worth your investment. Especially considering that the average homes save quite little according to a report by Nest.

If you consider that they are getting a 10-12% savings on heating and 15% savings on cooling, which amounts to about $131-145 savings in a year.

According to readers on Nest Forum, they are making a saving of $10 -20 per month on average.

Ecobee also claims that they are saving their customers an average of 23% per year.

Those are pretty big numbers if you see the big picture. It’s worth your every penny in my opinion! I installed Ecobee 3 Lite thermostats last year in my home, and I saw a $200 savings in my heating bill.

So if you have been asking whether smart home thermostats will save you money, the answer is a resounding YES! Based on all the statistical data I have gathered.

Are Nest thermostats secure?

All smart home security, whether about your Amazon Echo or thermostats, are all linked to your router. Which in turn could be a security risk if you don’t know what you are doing.

That being said, there are several ways you can make sure that your smart home network is secure. I would, therefore, suggest you start by reading my article on how you can secure your smart home network and follow what I have suggested.

Will a smart thermostat work with my furnace?

Though every home is slightly different and the heating and air conditioning set up is different. Luckily, there is a smart thermostat that just fits every scenario.

Have you installed a four or a five wire thermostat before? Well, the process should be almost similar. This makes it easy for an average homeowner to install them. You should be careful though; most smart thermostats require a C wire.

I have had a look at a local big box hardware store, and I’ve seen signs that say they don’t need a C wire, but most of them need it.

If still, you aren’t sure about what you want to buy, you may want to consult with your local electrician or any other professional. In most cases, smart thermostats are usually installed with little trouble.

Another way you can workaround getting power for your smartphone controlled thermostat if you don’t have a C wire is by using a standard 24-volt adapter. You can also have a look at one of my article on how to install an Ecobee Thermostat with no C wire.

Which smart thermostat should I get on the cheap?

There are many different brands of smart thermostats in the market out there right now. Ecobee, Nest and Honeywell just but to mention a few. If you have been figuring out which is the best and fits your home then this is the best part of this article you should read.

When it now comes to choosing the best for you, then you need to consider what you are using as a smart home hub. Are you using Samsung SmartThings? And are you planning on just using Alexa or Google Home for controlling your thermostats?

Do you heat an entire house or you are just looking for the best thermostat for a small apartment?

You need to take all these things into consideration when shopping for a smart thermostat.

Let’s begin then…

Ecobee 3 Lite – The Best Smart Thermostat Hands Down

This is a smart thermostat that has changed my life in many ways. Not for nothing.  I currently have four of them in my house, and this shows my love and devotion for Ecobee brand. They will help you to save up to 23% on your cooling and heating costs.

They can be controlled from anyplace and the temperatures adjusted and comfort settings from your iOs or Android devices. They work well with Ecobee room sensors that are sold separately. Something which comes inherently with the Ecobee 4.

But their price point is bordering the budget value smart thermostats out in the market now.

They install easily and quickly. All the things you are going to use are all packed in the box. The other feature that is nice about them is that they can tell the current weather outside on the thermostat.

Ecobee 4 – Best Smart Thermostat For Multiple Zones

The Ecobee 4 is a big brother to Ecobee 3 Lite. It has a few more features that are pretty a big deal. One of the features that may be a great deal is that they are built with Alexa right in.

This then means that you don’t have to add Echo or Echo Dot into a room, you can talk to Alexa just through your thermostat.

You can also ask it to read the news for you or set the timer. They are very handy.

Another of the newest and nicest features about them is that they have room sensors that can be put in the house in case you have a heating system that can support it. The sensors can pick up on hot spots or cold spots in the home and adjust it as necessary to ensure there is a comfort.

They also sense when the room is occupied, and the heat can be set to go off when the room if left.

Here again, one of the strongest features of having them in your home is the long-term cost savings. They are just so easy to install. Although their configuration may take a little longer because of the features that these Ecobee 4 brings.

Nest – Best Smart Thermostat Compatible With Google Home

Nest has been in the smart thermostat market for a longer time compared with the rest of these thermostats.

 They are considered among the top dogs. They have recently introduced their 3rd generation in its learning Thermostat line. They have four colors that are vibrant you can change the display to, and their display is easy to read.

These smart, controlled thermostats spend their time learning the routine of the homeowner and can help in saving you a lot of money by adjusting the temperatures in the room. It takes them some days for them to learn your patterns, and other they learn, they work flawlessly.

It has a new Farsight feature which helps to show you the temperature and the time you are approximately ten feet away or less.  Farsight offers a big and beautiful display for you to see across the room and allows you to choose between a digital and an analog face. The Nest thermostat has four colors; copper, black, stainless steel and white.

Nest is a little bit pricier than the rest but comes with neat features which Ecobee doesn’t. It can measure the humidity in the air and turn the air conditioning when needed to automatically. It also has a unique feature that reminds you of the time you need to change your air filters on your furnace that is based on how many times the furnace has been turned on and off.

Nest is among the best thermostats that you can use with Google Home.

Honeywell Lyric – Best Budget Thermostat

What’s your budget? If these other options are not getting you excited because of their price, then Honeywell Lyric T5 may do the trick. I’m very impressed with how Honeywell has adapted so well in this market, and I’m convinced that someday in the future they may even be the leader.

The Honeywell Lyric T5 is a programmable touchscreen thermostat that is built with geofencing in it. It works with Amazon Alexa and requires a C wire. This smartphone controlled thermostat is also compatible with both Alexa and Siri. It is also worth your money.

It also has a unique, neat feature that’s called “adaptive recovery” that is where it learns how long it takes to achieve the right temperatures in the room at the right time. It then automatically turns your system on to get to the temperature that is desired, then it auto changes from cool to heat when need be.

Another nice feature is that it also has “smart alerts” that give you push notifications if you need a filter change and extreme temperature warnings.

Are thermostats easy to install?

Installing a smart thermostat is an easy process, you first start by removing your old thermostat and then reattach low-voltage wires to the lyric wiring harness then mount the new device to the wall. The operation is simple and could only last for one hour.

Tips for installing smart thermostats

Before you start installing, you should first start by turning off the thermostat from the circuit breaker. In case you have a digital readout, you should watch and make sure it goes blank.

Most thermostats also have batteries for backup power, the batteries should be removed to make sure the power is truly off.

How to install new thermostats

In case you find yourself in a situation where you need to replace your old thermostat with a new one, I’ve documented the steps you can follow here.

  • 1 first turn off the power to A/C and Furnace
  • 2 remove the face old thermostat
  • 3 take a picture of the wires
  • 4 disconnect the wires from your old thermostats
  • 5 remove your old mount
  • 6 put the new thermostat mount and connect the wires
  • 7 screw the faceplate mount to wall
  • 8 attach your new thermostat face
  • 9 turn on the power to A/C and furnace
  • 10 configure the new thermostat


Whichever of the above smart thermostats you may end up going with, I’m pretty sure that you will be very satisfied. Just ensure that you pick the best smart thermostat that will fit your lifestyle and needs. You may also make sure that you have a look at our recommended tools page to see other smart home products I endorse.

Concerning the installation of new thermostats, every thermostat that you buy is going to be different in the configuration, so it would be advisable if you follow the steps in the user manual that come with the new thermostat.

Well, there you go now. You now know which thermostats you can have and how you can install a new thermostat. The wires should not intimidate you, the job is so easy.