Is your thermostat worth a billion dollars?
Most thermostats are simple and cheap, so it may surprise you to learn Google Inc. just spent $3.2 billion to purchase Nest Labs, maker of the Nest Learning Thermostat.
Why would Google spend so much money to purchase a thermostat manufacturer?
It could be worth $19 trillion dollars.
Google believes the market for the Nest Learning Thermostat, and other “connected home” products like it, will one day be part of a market worth $19 trillion dollars. That’s a whole lot of zeroes, but to get there a whole lot of people have to start buying new thermostats and similar products.
So, why would you or anyone else invest in a Nest Learning Thermostat?
To save money.
Used correctly, any programmable thermostat will save energy, which saves money. Manually adjusting a thermostat will save money too. Most people don’t do either. It can be a pain to get a programmable thermostat working correctly, and it’s easy to forget the thermostat is even there when you aren’t too hot or too cold already.
The Nest Learning Thermostat controls your interior air comfort without you having to learn any complicated programming technique or adjusting the temperature every day of the year.
Install the Nest Learning Thermostat, use it like a manual thermostat for a while, and it won’t be any time at all before Nest is adjusting the temperature the way you want it without you having to lift a finger.
As you can see, it’s called a ‘learning’ thermostat for a very good reason, because that’s exactly what it does.
The Nest is smart enough to reduce your energy consumption by up to 20%, so you waste less, and spend less.