Yes, with important caveats. Studies show 10-15% average savings on heating and cooling costs for homes that use smart thermostat features well. The range is wide: households that rarely leave home save little; those with regular away periods and proper setup save more.

What the Studies Actually Show

ecobee’s published data (based on anonymized usage): Homes using ecobee’s eco+ smart features save about 26% annually compared to homes where the thermostat is set to a constant temperature. This is ecobee’s own data, so take it with that context, but the direction matches external research.

US Department of Energy estimates: Setting back your thermostat 7-10°F for 8 hours per day can save up to 10% per year. This is the baseline estimate for any programmable thermostat. Smart thermostats automate this rather than requiring manual discipline.

Lawrence Berkeley National Laboratory research: Automated scheduling and smart home integration can increase savings beyond basic programmable thermostat performance by 5-10% additional, with geofencing and occupancy-responsive control as the main drivers.

Heating system matters: Studies generally focus on gas-heated homes with central HVAC. Electric baseboard and heat pump homes have different dynamics.

Savings by Heating Type

Gas furnace (central forced air):
– Most studied scenario
– 10–15% average savings vs constant-temperature operation
– Higher savings in homes with regular away periods
– Setbacks of 3–5°C overnight and during work hours drive most of the savings

Electric baseboard:
– Savings mechanism is different, driven by per-room control rather than a single thermostat’s setpoints
– Multi-zone setbacks (lowering unoccupied rooms) deliver the most savings
– Potential savings: 15–25% on baseboard electricity consumption in homes with regular occupancy patterns
– Single-zone Mysa in one room: lower absolute savings but still meaningful

Heat pump (air-source):
– More complex: deep setbacks can backfire in cold weather (recovery requires expensive auxiliary heat)
– Optimized thermostat (ecobee with eco+) moderates setbacks on its own
– Net savings: 8–15% with proper configuration; less without
– Demand-response credits add meaningful value on top of efficiency savings

See detailed analysis: Are Smart Thermostats Worth It in Canada?

What Makes the Difference

High savings households:
– Consistent work schedule (away 8+ hours on weekdays)
– Multiple zone control or room sensors
– Geofencing enabled and reliable
– Utility rebates reduce payback period

Low savings households:
– Someone home most of the day
– Heating an older, poorly insulated home (the thermostat controls scheduling, not insulation losses)
– Constant-temperature preference (no setbacks used)
– Basic scheduling not set up

The discipline factor: A smart thermostat doesn’t save money on its own. It automates the savings strategies that hand-programmed setbacks deliver. If you never set up a schedule or geofencing, a smart thermostat behaves like an expensive manual thermostat.

How Rebates Change the ROI

Factoring in rebates changes the payback math.

Without rebate:
– ecobee Enhanced: $229 CAD
– At 10% savings on $1,500/year gas bill: $150/year savings
– Payback: ~18 months

With $100 rebate (Enbridge Gas, Ontario):
– Effective cost: $129 CAD
– Same savings: $150/year
– Payback: ~10 months

With rebate + demand-response credits ($75/year):
– Total annual benefit: $225/year
– Payback: ~7 months, then net positive every year after

See Smart Thermostat Rebates in Canada by Province and Demand Response Payout Comparison: Which Utility Pays the Most?

Frequently Asked Questions

How much money does a smart thermostat actually save?
Studies show 10–15% average savings on heating and cooling costs for actively used smart thermostats. Households with regular away periods and proper scheduling see the high end; households where someone is home most of the day see less.

Do smart thermostats save money if someone is home all day?
Less so. The main savings mechanism is setback scheduling during away and sleep periods. A household with someone home 18+ hours per day will draw most of its savings from overnight setbacks and geofencing on the occasional away trip. Budget $50-100/year rather than $150+.

How long until a smart thermostat pays for itself?
Without rebates: 12-24 months for central HVAC homes. With a $75-100 provincial rebate: 6-12 months. With rebate + demand-response credits: under 6 months in programs like ConnectedSolutions (MA).

Do smart thermostats save money on electric baseboard heating?
Yes, through per-room setback control and geofencing. The mechanism is different from gas furnace savings (per-room vs whole-home setback) but the savings potential is comparable or higher for households with multiple zones and regular away periods.

Are smart thermostat savings claims inflated?
Manufacturer savings claims (ecobee’s 26% figure) are real but represent devices used under ideal conditions compared to constant-temperature operation, a favorable baseline. Industry-independent estimates of 10-15% are more realistic for the average user. If you use scheduling and geofencing well, you can achieve more.