Many arguments can be made in favor of smart thermostats like the ones Nest makes. They’re smarter than regular thermostats because they’re able to function on their own, learn out habits and adapt, and also save us money. Nest owners can already have their thermostats automatically adjust the home’s temperature while they’re asleep or opt into a rewards program, but the company’s thermostats are getting a new feature which will automatically provide more savings.
Nest calls it the “Time of Savings” feature. The feature saves money by adjusting the house’s temperate based on time-of-use rate plans. Simply put, it’s going to prioritize usage when rates are low and cut back when the rates are high.
Many energy companies provide different pricing throughout the entire day. The price goes up when there’s more demand and it comes down when demand sheds. Nest thermostats will look at that and adjust the temperature accordingly to ensure that users get the best possible saving.
The feature works by looking at the time-of-use energy provider’s current rates based on time of day and will then recalibrate the Nest’s temperature by up to two degrees in order to save money. Users can still set the thermostat manually if they don’t really care about saving a few extra bucks.
SolarCity has signed up a partner to support this Nest feature, the company says that the Time of Savings feature will soon work with other electricity companies as well like Southern California Edison.
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