According to a report released by Berg Insight, a research company, the number of homes that use smart thermostats in the USA rose by 64% in 2016. Based on the nature of progressiveness of smart thermostat usage, a similar trend is anticipated in the next 5 years. In short, people are embracing the new technology in order to make life more comfortable and efficient. With the energy consumption being one of the highest household expenditure in America, there is a lot of sense to employ improved ways of reducing the energy bills.
The research company’s analyst predicted the number of households with smart thermostats will continue to increase at the rate of 50%, an annual compound rate, by 2022. This means the USA will remain the biggest thermostat market because the estimated number of users surpasses other continents. According to the Berg Insight, over 43 million households have smart thermostats compared to less than 35 million homes with smart thermostats in the Europe.
Benefits in the Smart Home Market
Smart thermostats are of great importance in the smart home industry, and therefore becoming a viable business opportunity in the USA. The Berg Insight report indicates that the consumers are constantly increasing, meaning that smart thermostats offer a wide range of benefits in their homes. The energy companies are also benefiting from the smart thermostat market since they have a lasting solution to the homeowners. In addition, the Heating, Ventilation, and Air Conditioning (HVAC) industry is now improved due to the usage of smart thermostats.
The core reason for Americans to embrace usage of smart thermostats is the energy saving potential, convenience, and improved comfort. The energy firms are in a better position to start consumer-friendly satisfaction response and also introduce energy efficient plans. The plans are capable of saving significant capital on investment since the low peak load helps to save on expenditure on the reserve energy production, as well as reducing the need to buy power on the market.
The smart thermostats add intelligence to the HVAC systems and thus provide new opportunities for the energy service companies. Also, they allow easier maintenance of the heating and cooling systems, as well as remote diagnostic wherever repair work is needed. Altogether helps in streamlining and easy tracking of the entire energy usage in the homes.
According to Berg Insight, the leaders in the smart thermostat market include the Nest, Ecobee, and Honeywell. These companies are complemented by vendors like the radio Thermostat Company that has achieved a firm grip in the smart home system through other partners such as the Vivint, ADT, and Alarm. Other participants in America include the Lennox, Emerson, and Venstar.
Advantages of Installing a Modern Smart Thermostat
It is clear that a number of homeowners haven’t realized the many benefits of integrating smart thermostats into their HVAC systems. The technology can help in increasing the efficiency in home’s energy usage, hence reducing the pressure on their wallets. More importantly, the environment will appreciate because there will be less stress on the natural resources if almost all homes utilize the new energy saving technology. The new smart thermostat is a representative of the modern technology that embraces energy efficiency.
One of the advantages is the ability to program itself. Failure to change the home temperature is a habit that encourages energy wastage. Generally, people set the temperature and forget to adjust it. It is worth noting that heating a home when not ‘necessary’ puts up unnecessary energy bills. That is why a smart thermostat can be programmed, not to mention its ability to learn your behavior while at home. Through this technology, it can regulate heating and cooling automatically and hence increase the comfort and reduce energy consumption.
Another advantage is the ability to control heating and cooling remotely. When you are away from home and you realize the A/C is on, you can simply turn it off using your smartphone. This means you can easily operate your thermostat using a mobile device or a computer from anywhere. The new models come with a mobile app where you can retrieve broad data and analytics on your energy consumption.
Last but not least, the modern smart thermostat can inform you when and how to save on energy through the mobile app. You can collect, analyze, and present energy usage data on your home heating and cooling. The thermostat can as well let you learn tips on how to save energy through the Green Leaf feature. For instance, this is found in the newest Nest Smart Thermostats.