Many landlords choose to include utilities in the cost of rent. Depending on the renters and the area’s climate, this can be an excellent financial decision. To protect yourself from losing money, however, you need to control the total energy used. Limiting thermostats can help you keep a handle on energy usage in your rental property, but how much can these devices save? You may be surprised. Additionally, there are many ways to save energy besides using limiting thermostats and other devices.
Although the amount of electricity and energy used varies by state, the United States is the world’s biggest electricity consumer in terms of energy per capita. The average American homeowner uses about 10,909 kWh of energy per year, averaging out to 909 kWh per month. Americans living in the Southeast use the most electricity, while those living in New England use the least inside the Lower 48. Residents living in Alaska and Hawaii use the least electricity of any Americans.
While these numbers are staggering, the average amount of an American electricity bill is more so. In a recent study, the United States’ highest monthly electric bills were more than $126. Its lowest monthly bills were still around $91. In other words, most Americans spend more than $1,000 on electricity and the energy needed to run electrical appliances per year.
Landlords can help their renters and themselves save energy, especially in an economy that is still recovering from a long recession. One of the key ways to do this is a limiting thermostat. These thermostats are also called control temp thermostats. They limit heat and air conditioning temperatures to about 72 degrees maximum, so your home never becomes too hot or too cold. Additionally, the cap on temperatures prevents wasted air from leaking back into the environment and prevents your house from developing hot or cold spots.
In addition to maximum temperature control, some limiting thermostats allow you to set temperatures for certain times of day. Whether you’re at home or away from the building, your limiting thermostat will automatically set itself to the temperatures you choose, regardless of weather. Limiting thermostats come in a variety of temperature grades, depending on where your tenants are. Some have no a/c limit but only allow the heat up to 74 degrees while others limit heat to 71 degrees, but reset every three hours.