Your smart thermostat can help you save up to 26% or $284 ($388 in Canada) on your annual heating and cooling costs.

Here’s what goes into the $284 ($388 in Canada) figure:

Average cost of electricity

According to the U.S. Energy Information Administration (EIA), the average home consumes 11,000 kilowatt-hours (kWh) of electricity per year^1(*), and the average price of electricity in the 12 months ending in June 2022 was 14.41 cents per kWh.² By multiplying 11,000 by 0.1441 we get the average cost of electricity per household per year: $1,562.

Average cost of natural gas

The EIA reports that the U.S. residential sector consumed 4.65 trillion cubic feet of natural gas in 2021.³ We divided that number by the total number of households in the United States (122,354,219⁴) to determine that the average home consumed 38,004 cubic feet of natural gas in 2021. At an average cost of $15.19 per thousand cubic feet for natural gas in the six months ending in June 2022⁵, we estimate the average household spends $577.19 on natural gas per year.

Percent of household energy used for heating and cooling

According to the U.S EIA, 51% of a household’s annual energy consumption is for space heating and cooling⁶, making heating and cooling equipment the largest consumers of energy in the average home.

ecobee’s savings claim.

Based on an internal analysis conducted in April 2021, ecobee customers in North America saved up to 26% on their heating and cooling costs compared to customers who kept their homes at a commonly used temperature of 72°F (22°C) all the time.

Learn more about how we calculate energy savings

Avg cost of electricity ($1,562) + Avg cost of natural gas ($577.19) × Percent of energy used for heating and cooling (.51) × ecobee’s savings claim (.26) = ecobee dollar savings ($284) per year

According to XE.com, on November 2, 2022, $284 US equaled $388 Canadian dollars.

^1(*) U.S. Energy Information Administration, “Use of energy explained: Energy use in homes (Electricity use in homes)”
² U.S. Energy Information Administration, “Electric Power Monthly: Rolling 12 Months Ending in July 2022”
³ U.S. Energy Information Administration, “Frequently Asked Questions: How much natural gas is consumed in the United States?”
⁴ United States Census Bureau, “QuickFacts: Families & Living Arrangements”
⁵ U.S. Energy Information Administration, “U.S. Price of Natural Gas Delivered to Residential Customers"
⁶ U.S. Energy Information Administration, “Use of energy explained: Energy use in homes (Basics)”