|Smart Thermostats Can Draw Big Money for HVAC||< Back|
We are all consumers, even when we live on the wholesale side. And, just like consumers, we are still a ways away from fully embracing the inter-connected home and Internet of Things. Don’t worry, there is still a desire to bring smart technology into the home. As the winter season approaches, smart thermostat purchases top the list for homeowners. And as distributors and contractors, it’s important to find a partner that makes it easy in the “upsell” and on the installation.
According to Parks Associates, nearly half of all thermostats sold in the U.S. this year - - about four million - will be smart thermostats. Most consumers will head to their local retailer to check out the newest, smart thermostat inventory, but a quarter of them will purchase their thermostat through a HVAC distributor.
The global smart thermostat market, including hardware and service, is expected to grow from over $585 million in 2014 to $5.9 billion by 2020, according to a report published by MarketsandMarkets. The reports also states that the residential application area is expected to hold the largest market share. This is good news for HVAC distributors and contractors.
With consumers looking to save money and replace old thermostats with more energy efficient smart ones, HVAC distributors need to prepare for increased interest. But how does a distributor or contractor know which thermostats to invest? What are the key elements to consider?
Before looking at product features and functions, HVAC professionals need to find a partner that truly understands the market and its HVAC needs. Time is money in the HVAC world - distributors need products that are easy to install and don’t require call backs to the homeowner. And, they need products that are priced right - giving the wholesale distributor and contractor margin opportunity.
With more than 100 years manufacturing quality, reliable products and 30 years in the home comfort business, LUX Products has emerged as the go-to choice for contractors who are looking to integrate premium products into their projects without the steep price-tag.
LUX understands HVAC needs and has created a smart thermostat that serves the market beautifully. New technology is great, and embraced by all, however, when a thermostat requires logins and a homeowner available for set up, it won’t win over the contractor.
For those contractors looking to get a little more high-tech, the LUX/GEO thermostat is the first WIFI thermostat that can be powered exclusively by battery power, thus making it compatible with all heating and cooling systems. Contractors are no longer “stuck” on the job or required to go back to the homeowner for more money on what should have been a quick installation. If the “c” wire isn’t available, no worries. The GEO is battery-powered (2-AA lithium included), no “c” wire needed but it can also be powered by a micro-USB or common.
The LUX/GEO comes equipped with features and functionality found in the more expensive thermostats. Its dual mounting positions (vertical or horizontal) is perfect for small spaces and J-box challenges- one thermostat can meet all HVAC jobs and customer expectations. It has a large display, control wheel interface and easy-to-understand programing. For easy installation, contractor set-up can all be done from the unit, without WiFi connection, however the homeowner will love the mobile control and added features provided by the LUX App available for iOS and Android devices.
Finally, the GEO also has geofencing capability via mobile app - this gives the home owner the benefits of a smart thermostat without having to pay for an expensive device. It automatically puts the thermostat into an energy-saving mode when the homeowner is out of the customized Radius/fence; it resets to provide optimal comfort with the homeowner enters the designated "fence".
As the market for smart thermostats continues to grow, it will be essential for HVAC distributors and contractors to offer product choices that offer high-end functionality but also meet project budget and time requirements. LUX Products rises to this challenge.