Ecobee Smart Thermostat Premium Review

The Ecobee Smart Thermostat Premium stands out as a formidable contender in the smart home climate control arena, offering a compelling blend of advanced features, intuitive control, and a strong emphasis on energy savings.

It’s designed for the tech-savvy homeowner who wants granular control over their HVAC system, backed by intelligent sensors and seamless integration with popular smart home ecosystems.

This device isn’t just about turning the heat up or down.

It’s about optimizing your home’s comfort and efficiency with smart sensors that detect occupancy and temperature disparities, ensuring you’re heating or cooling only where and when it’s needed.

For anyone looking to truly take command of their home’s energy footprint while maximizing comfort, the Ecobee Smart Thermostat Premium presents a robust, feature-rich solution that justifies its higher price point through long-term savings and enhanced lifestyle convenience.

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Here’s a comparison of some top smart thermostats and related smart home devices:

• Ecobee Smart Thermostat Premium

  

  • Key Features: Built-in air quality sensor, radar-based occupancy detection, voice control Siri and Alexa built-in, smart sensor included, ecobee SmartSensor for doors and windows compatibility sold separately, Apple HomeKit, Google Assistant, Amazon Alexa integration.
  • Average Price: Around $249-$269
  • Pros: Excellent energy-saving features, comprehensive sensor network, superior voice control integration, elegant design, robust app.
  • Cons: Higher price point, some advanced features might require professional installation for certain HVAC systems.

• Google Nest Learning Thermostat 3rd Gen

  • Key Features: Learns your schedule and adjusts automatically, Farsight display, Home/Away Assist, energy history, compatibility with Nest Temperature Sensors sold separately, Google Assistant and Amazon Alexa integration.
  • Average Price: Around $249
  • Pros: Intuitive learning algorithm, sleek design, strong brand ecosystem, proven energy savings.
  • Cons: No built-in voice assistant, relies heavily on learning rather than direct programming for some users, fewer advanced sensor options out-of-the-box compared to Ecobee Premium.

• Google Nest Thermostat

  • Key Features: Energy Star certified, Savings Finder for energy-saving suggestions, Home/Away Assist, remote control via Google Home app, simplified design, Google Assistant and Amazon Alexa integration.
  • Average Price: Around $129-$149
  • Pros: More affordable than the Learning Thermostat, attractive design, good entry point into smart thermostats.
  • Cons: Lacks the “learning” feature of the premium model, no Farsight, less robust materials.

• Honeywell Home T9 Smart Thermostat

  • Key Features: Room sensors with temperature and motion detection, geofencing, multi-room zoning, smart alerts, large touchscreen display, Amazon Alexa and Google Assistant integration.
  • Average Price: Around $169-$199
  • Pros: Excellent multi-room sensor capabilities, reliable brand, easy installation, strong app.
  • Cons: Sensor battery life can be an issue, not as aesthetically refined as Nest or Ecobee for some users.

• Emerson Sensi Touch Smart Thermostat

  • Key Features: Large color touchscreen, humidity sensing, geofencing, compatibility with most HVAC systems no C-wire required for some installations, Apple HomeKit, Amazon Alexa, Google Assistant, SmartThings integration.
  • Average Price: Around $149-$169
  • Pros: Highly compatible with older HVAC systems, simple installation, robust app, no subscription fees.
  • Cons: Design is less modern than competitors, lacks advanced sensor network features found in Ecobee Premium.

• Flair Smart Vents

  • Key Features: Integrate with smart thermostats including Ecobee and Nest, room-level temperature control, automatically open/close based on room temperature and occupancy, compatible with smart sensors.
  • Average Price: Varies significantly by size and quantity, typically $100-$150 per vent.
  • Pros: Enables true zone control and eliminates hot/cold spots, maximizes efficiency of existing HVAC system, easy integration.
  • Cons: Can be a significant investment for a whole house, requires a smart thermostat to function optimally, may require professional installation for some.

• TP-Link Kasa Smart Wi-Fi Light Switch

  • Key Features: Remote control of lighting, scheduling, voice control with Alexa/Google Assistant, no hub required, energy monitoring on some models.
  • Average Price: Around $15-$30 per switch.
  • Pros: Affordable entry into smart home lighting, easy installation, reliable Wi-Fi connectivity, good app.
  • Cons: Basic functionality compared to full smart lighting systems, may not integrate as deeply with HVAC systems beyond simple scheduling.

Unpacking the Ecobee Smart Thermostat Premium: A Deep Dive into Intelligent Climate Control

The Ecobee Smart Thermostat Premium isn’t just another device to tack onto your wall.

It’s a strategic upgrade for anyone serious about optimizing their home’s comfort and slashing energy bills.

Think of it as the mission control for your indoor climate, packed with features that go beyond basic temperature adjustments.

What we’re into here is how Ecobee has managed to differentiate itself in a crowded market, bringing a level of sophistication that genuinely impacts your daily life and long-term expenses.

It’s about leveraging technology to make your home smarter, more efficient, and ultimately, more comfortable. Satechi Slim X3 Bluetooth Backlit Keyboard Review

Design and Aesthetics: Form Meets Function on Your Wall

Let’s be frank, a thermostat is a permanent fixture in your home, often in a high-traffic area. So, its look matters.

The Ecobee Smart Thermostat Premium steps up to the plate with a design that’s both modern and understated.

• Sleek and Modern Appearance: The device boasts a minimalist aesthetic with a clean, dark finish and a vibrant, crisp touchscreen display. It blends seamlessly into various home decors, from ultra-modern to traditional. It’s not flashy, but it exudes a premium feel.
  • Glass front: The glass front adds a touch of sophistication and durability.
  • Streamlined profile: It sits relatively flush against the wall, avoiding a bulky appearance.
• Intuitive Touchscreen Interface: The display isn’t just for show. it’s highly functional. The menu system is logically laid out, making it easy to navigate through settings, schedules, and various features.
  • Responsive touch: The screen responds well to touches, minimizing frustration.
  • Clear readability: Large fonts and clear icons ensure easy readability from a distance, even in varying light conditions.
• Physical Dimensions: While compact, it’s substantial enough to feel well-built. Its dimensions approximately 4.29 x 4.29 x 1 inch ensure it doesn’t get lost on a wall but also doesn’t dominate the space. For context, it’s similar in footprint to a standard light switch plate, just a bit thicker.

Installation Process: Getting Your Smart Home Up and Running

One of the biggest hurdles for any smart home device can be the installation.

Ecobee has made significant strides in simplifying this, but understanding the nuances is key.

• DIY-Friendly Approach: For many users, particularly those with a C-wire common wire or a modern HVAC system, the installation is remarkably straightforward. Ecobee provides clear, step-by-step instructions both in the box and within their app.
  • Visual guides: The app often includes animated guides and diagrams to walk you through each connection.
  • Color-coded wiring: Standardized wiring colors make matching connections relatively easy.
• The Importance of the C-Wire: This is the power supply for the thermostat. While Ecobee does include a Power Extender Kit PEK for homes without a C-wire, its use adds a layer of complexity.
  • PEK function: The PEK essentially “borrows” power from your existing heating/cooling wires, ensuring the thermostat has consistent power. This is crucial for Wi-Fi and advanced features.
  • Professional installation for complex systems: If you have a multi-stage system, heat pump with auxiliary heat, or zoned HVAC, it’s often prudent to call a qualified HVAC technician. They can ensure proper wiring and configuration, preventing potential damage to your HVAC system or the thermostat itself.
• Average Installation Time: A typical DIY installation with a C-wire can take as little as 30-45 minutes. If you need to install the PEK, budget an extra 30 minutes to an hour. Professional installation will vary depending on scheduling, but the actual work is often less than an hour.

Core Features and Functionality: Beyond Basic Temperature Control

This is where the Ecobee Smart Thermostat Premium truly shines, going far beyond what traditional thermostats can offer. Samsung 55 Inch Class S95B Oled Tv Review

It’s about creating an intelligent, responsive environment.

• Radar-based Occupancy Detection: This is a must. Unlike simpler motion sensors that might miss stationary occupants, Ecobee’s radar technology is highly accurate at detecting presence in a room.
  • Enhanced accuracy: Reduces instances of the system mistakenly thinking a room is empty and adjusting temperature unnecessarily.
  • Improved Home/Away modes: Better informs the thermostat whether you’re home or away, leading to more precise energy savings.
• Built-in Air Quality Sensor: This feature is a significant differentiator. It monitors various airborne pollutants and volatile organic compounds VOCs.
  • Real-time monitoring: Provides immediate feedback on your indoor air quality directly on the thermostat screen and in the app.
  • Alerts and recommendations: Notifies you if air quality drops and can offer suggestions like increasing fan circulation or opening a window. This is especially useful for homes with pets, allergies, or cooking odors.
• SmartSensors Included: The Premium model comes with one Ecobee SmartSensor right out of the box. These small, wireless pucks are vital for multi-zone awareness.
  • Temperature averaging: Place them in different rooms to average temperatures across your home, eliminating hot or cold spots. For instance, if your thermostat is in a cool hallway but your living room is sweltering, the sensor can inform the system to keep cooling until the living room reaches comfort.
  • Occupancy detection: The SmartSensors also include motion sensors, contributing to the overall Home/Away logic and ensuring comfort where people are.
  • Expandable system: You can purchase additional SmartSensors to cover more rooms or areas, creating a truly zoned comfort system.
• Advanced Scheduling and Geofencing: Ecobee’s scheduling is robust, allowing for highly customized climate programs. Geofencing uses your phone’s location to automatically switch between Home and Away modes.
  • Customizable schedules: Set different temperatures for specific times of day and days of the week.
  • Effortless energy savings: Geofencing ensures you’re not heating or cooling an empty house, automatically saving energy when you leave and preparing the home for your return.
• Voice Control Siri and Alexa Built-in: This is a standout feature, effectively turning your thermostat into a smart speaker.
  • Hands-free operation: “Hey Siri, turn the heat up to 72 degrees.” “Alexa, what’s the temperature in the living room?”
  • Multi-room audio: While not a primary feature, it can play podcast or podcasts, adding convenience.
  • Smart home hub capabilities: It acts as a hub for some smart home devices, further centralizing control.

Smart Home Ecosystem Integration: Playing Well with Others

A smart thermostat isn’t an island.

Its true power is unlocked when it integrates seamlessly with your broader smart home ecosystem. Ecobee excels here, offering wide compatibility.

• Apple HomeKit: For iPhone users, HomeKit integration means you can control your Ecobee using the Home app, Siri voice commands, and incorporate it into HomeKit automations.
  • Scene creation: “Good Morning” scene could adjust temperature, turn on lights, and open blinds.
  • Remote access: Control your thermostat from anywhere via the Home app.
• Amazon Alexa: With Alexa built directly into the thermostat, you get hands-free voice control without needing a separate Echo device nearby.
  • Direct commands: “Alexa, set the fan to auto.”
  • Routines: Create routines that trigger based on thermostat status e.g., if temperature drops below X, turn on a smart space heater.
• Google Assistant: For Android users and Google Home enthusiasts, Ecobee integrates smoothly with Google Assistant for voice commands and inclusion in Google Home routines.
  • Unified control: Manage your thermostat alongside other Google Assistant-enabled devices.
• IFTTT If This Then That: This platform allows for advanced custom automations across various smart devices and services.
  • Creative automations: For example, “If outdoor temperature reaches 90 degrees, then set thermostat to 75 degrees.” Or “If Ecobee detects away mode, then turn off all smart lights.”
• SmartThings and Other Platforms: Ecobee’s open API approach means it’s generally compatible with a wide range of third-party smart home platforms, offering flexibility.
  • Broad compatibility: Ensures your investment in Ecobee will likely work with future smart home expansions.

Energy Savings and Monitoring: The Real ROI

This is often the primary driver for investing in a smart thermostat.

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The Ecobee Smart Thermostat Premium is designed from the ground up to help you save money.

• Eco+ Feature: This suite of features is Ecobee’s intelligent energy-saving algorithm. It includes:
  • Community Energy Savings: Adjusts your schedule slightly during peak energy demand times, based on your utility’s signals, to save energy without sacrificing comfort.
  • Demand Response programs: Some utilities offer incentives for participating in these programs, where your thermostat can make small adjustments during high demand periods.
  • Feels Like: Accounts for humidity to make your home feel more comfortable at higher temperatures in summer and lower in winter, reducing energy use.
  • Adjust for outside temperature: Learns how your home heats and cools relative to outside conditions.
  • Schedule Assistant: Helps optimize your schedule based on your usage patterns.
• Home IQ Reports: The Ecobee app provides detailed insights into your energy usage.
  • Monthly energy reports: Break down how much heating/cooling you used, compared to previous months and similar homes.
  • Runtime graphs: Visualizations of when your system was running and for how long.
  • Identifies inefficiencies: Helps you spot trends and areas where you could further optimize settings for savings. Data shows that users often see 15-23% savings on heating and cooling costs. This translates to substantial annual savings depending on your climate and energy rates.
• SmartSensor Contribution to Savings: By actively monitoring temperature and occupancy in multiple rooms, the SmartSensors ensure that heating and cooling are directed where they are most needed.
  • Avoids over-conditioning empty rooms: If a room with a sensor is consistently empty, the system won’t waste energy conditioning it to your desired temperature.
  • Balances temperatures: Prevents the thermostat from constantly running if the main sensor is in a drafty area, while other rooms are comfortable.

User Experience and App Functionality: Control at Your Fingertips

A powerful smart device needs an equally powerful and intuitive app.

Ecobee’s app is a cornerstone of the user experience.

• Intuitive App Interface: The Ecobee app is well-designed, clean, and easy to navigate. It allows for complete control over your thermostat from anywhere.
  • Remote control: Adjust temperature, change modes, or override schedules from work or on vacation.
  • Quick adjustments: Large, easily accessible sliders for temperature changes.
  • Fan control: Detailed options for fan run times e.g., circulate for 10 minutes per hour.
• Scheduling and Programming: The app makes setting up complex schedules remarkably simple.
  • Drag-and-drop interface: Easily create and adjust schedule events.
  • Pre-set comfort profiles: Quickly switch between “Home,” “Away,” and “Sleep” modes.
• Alerts and Notifications: The app keeps you informed about your HVAC system’s status and potential issues.
  • Filter change reminders: Notifies you when it’s time to replace your air filter, which is crucial for system efficiency and air quality.
  • Maintenance alerts: Can alert you to potential issues like a low auxiliary heat output or unexpected temperature drops.
  • Extreme temperature alerts: Warns you if your home gets too hot or too cold, preventing frozen pipes or excessive heat exposure.
• Integration with Other Ecobee Products: While the Premium thermostat is a standalone product, it integrates seamlessly with other Ecobee smart home devices like the Ecobee SmartCamera with Voice Control and Ecobee Smart Security system.
  • Unified ecosystem: Manage all your Ecobee devices from a single app.
  • Enhanced security and monitoring: Use the thermostat’s built-in Alexa/Siri for voice control of security features or to check camera feeds.

Pros and Cons: A Balanced Perspective

No product is perfect for everyone.

Understanding the trade-offs helps in making an informed decision. Benq Mobiuz Ex3410R Review

• Advantages of the Ecobee Smart Thermostat Premium:
  • Advanced Sensor Technology: Radar occupancy detection and included SmartSensor provide unparalleled accuracy in understanding home occupancy and temperature distribution. This translates directly to smarter heating/cooling and better energy savings.
  • Superior Voice Control Integration: Built-in Siri and Alexa make it a central hub for voice commands, not just for the thermostat but for your entire smart home.
  • Comprehensive Air Quality Monitoring: A unique and highly valuable feature for health-conscious individuals, offering real-time data and actionable insights.
  • Robust Energy Saving Features Eco+: Actively works to reduce your energy footprint with intelligent algorithms and utility integration.
  • Intuitive App and User Interface: Easy to use and provides deep control and insights.
  • Broad Smart Home Compatibility: Integrates well with major ecosystems.
• Potential Disadvantages:
  • Higher Price Point: It’s an investment, and the cost might be a barrier for some compared to more basic smart thermostats.
  • C-Wire Requirement: While the PEK is included, not having a native C-wire can complicate DIY installation. Some older homes may require an electrician if the PEK is not sufficient or desired.
  • Learning Curve for Advanced Features: While the basics are easy, fully leveraging all the Eco+ settings, sensor placements, and advanced schedules might take a bit of tinkering for new users.
  • Reliance on Wi-Fi: Like all smart thermostats, a stable Wi-Fi connection is essential for remote control and smart features. A power outage or Wi-Fi interruption will limit functionality to basic manual control.
  • Microphone sensitivity: Some users might find the built-in microphones to be overly sensitive or not sensitive enough depending on their home layout and ambient noise.

In essence, the Ecobee Smart Thermostat Premium is designed for those who appreciate detailed control, advanced analytics, and seamless smart home integration.

It’s a premium product that delivers premium results, particularly in terms of energy efficiency and enhanced comfort.

If you’re willing to invest upfront for long-term benefits and a sophisticated smart home experience, the Ecobee Premium is undoubtedly a top-tier choice.

Frequently Asked Questions

What is the Ecobee Smart Thermostat Premium?

The Ecobee Smart Thermostat Premium is Ecobee’s flagship smart thermostat, offering advanced features like a built-in air quality sensor, radar-based occupancy detection, and integrated voice assistants Siri and Alexa for comprehensive home climate control and energy savings.

How does the Ecobee Smart Thermostat Premium differ from other Ecobee models?

Yes, the Premium model distinguishes itself with a built-in air quality sensor, radar-based occupancy detection for superior accuracy, and dual voice assistants Siri and Alexa directly integrated, features not found in the Ecobee Smart Thermostat Enhanced or Lite models. Hp Scanjet Enterprise Flow N6600 Fnw1 Review

Is the Ecobee Smart Thermostat Premium easy to install?

Yes, it is generally considered DIY-friendly, especially if your home has a C-wire common wire. Ecobee provides clear instructions and includes a Power Extender Kit PEK for homes without a C-wire, though installing the PEK adds a bit more complexity.

Do I need a C-wire for the Ecobee Smart Thermostat Premium?

Yes, a C-wire is required for consistent power.

If your home’s wiring doesn’t include a C-wire, Ecobee provides a Power Extender Kit PEK in the box to facilitate installation without one, by drawing power from other HVAC wires.

What is the purpose of the included Ecobee SmartSensor?

The included Ecobee SmartSensor monitors temperature and occupancy in a specific room, allowing the thermostat to average temperatures across your home and prioritize comfort where people are, reducing hot or cold spots and improving energy efficiency.

Can the Ecobee Smart Thermostat Premium control multiple zones in my home?

Yes, while the thermostat itself controls one HVAC system, you can use additional Ecobee SmartSensors in different rooms to average temperatures or prioritize comfort in specific areas, creating a more balanced heating/cooling experience. Panasonic Lumix Dc Gh6 Review

For true zoned control, you’d need a multi-zone HVAC system paired with dampers or smart vents like Flair.

Does the Ecobee Smart Thermostat Premium have a built-in air quality sensor?

Yes, the Ecobee Smart Thermostat Premium features a built-in air quality sensor that monitors volatile organic compounds VOCs and carbon dioxide CO2 levels, providing real-time indoor air quality readings and alerts.

How accurate is the radar-based occupancy detection?

The radar-based occupancy detection in the Ecobee Smart Thermostat Premium is highly accurate, capable of detecting stationary occupants.

This improves the thermostat’s ability to accurately determine if a room is occupied, leading to more precise Home/Away mode transitions and energy savings.

Does the Ecobee Smart Thermostat Premium have voice control?

Yes, it has both Amazon Alexa and Apple Siri built directly into the device, allowing for hands-free voice control of your thermostat and other smart home devices, similar to a smart speaker.

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Can I control my Ecobee Smart Thermostat Premium from my smartphone?

Yes, you can control your Ecobee Smart Thermostat Premium remotely from anywhere using the Ecobee app on your smartphone iOS and Android.

What is Ecobee Eco+?

Eco+ is a suite of smart features designed to enhance energy savings and comfort.

It includes features like Community Energy Savings, Demand Response compatibility, Feels Like temperature adjustments, and Schedule Assistant, all working to optimize your HVAC usage.

How much energy can I save with the Ecobee Smart Thermostat Premium?

Ecobee claims users can save up to 23% on their heating and cooling costs annually. Asus Proart Mouse Md300 Review

Actual savings can vary based on factors like climate, home insulation, local energy rates, and personal usage habits.

Is the Ecobee Smart Thermostat Premium compatible with Apple HomeKit?

Yes, the Ecobee Smart Thermostat Premium is fully compatible with Apple HomeKit, allowing you to control it via the Home app, Siri voice commands, and incorporate it into HomeKit automations.

Is the Ecobee Smart Thermostat Premium compatible with Google Assistant?

Yes, the Ecobee Smart Thermostat Premium works seamlessly with Google Assistant, allowing for voice control via Google Assistant-enabled devices and integration into Google Home routines.

Is the Ecobee Smart Thermostat Premium compatible with Amazon Alexa?

Yes, Amazon Alexa is built directly into the Ecobee Smart Thermostat Premium, enabling direct voice commands without the need for a separate Echo device.

It also integrates with other Alexa-enabled devices. Fractal Design Pop Air Rgb Review

Can the Ecobee Smart Thermostat Premium learn my schedule?

While it doesn’t “learn” your schedule in the same way a Nest Learning Thermostat does, its Eco+ features and SmartSensors intelligently adapt to your home’s occupancy and external factors to optimize comfort and savings around your programmed schedule.

Does the Ecobee Smart Thermostat Premium offer energy usage reports?

Yes, through the Ecobee app and the Home IQ web portal, you can access detailed monthly energy reports, runtime graphs, and insights into your heating and cooling usage, helping you understand and optimize your energy consumption.

What kind of HVAC systems is the Ecobee Smart Thermostat Premium compatible with?

The Ecobee Smart Thermostat Premium is compatible with most 24 VAC conventional gas, oil, electric and heat pump HVAC systems including dual fuel and multi-stage systems. It’s best to check Ecobee’s compatibility checker on their website for specific system configurations.

Can the Ecobee Smart Thermostat Premium be used for commercial properties?

While designed primarily for residential use, some small commercial properties might find it suitable.

However, for larger commercial HVAC systems with complex zoning or advanced needs, specialized commercial solutions are usually more appropriate. Hisense 55U6H Review

What is the warranty on the Ecobee Smart Thermostat Premium?

Ecobee typically offers a 3-year limited warranty on their Smart Thermostat Premium when purchased from an authorized retailer.

It’s always advisable to check the specific warranty terms at the time of purchase.

Can I integrate the Ecobee Smart Thermostat Premium with other smart home devices?

Yes, beyond major voice assistants, Ecobee supports integration with platforms like IFTTT If This Then That, SmartThings, and others, allowing for extensive custom automations with a wide range of smart home devices.

How often do the SmartSensors need battery replacement?

Ecobee SmartSensors typically use a CR2032 coin cell battery, which can last for up to 5 years under normal usage conditions.

The Ecobee app will notify you when battery levels are low. Hp Elite Dragonfly Chromebook Review

Does the Ecobee Smart Thermostat Premium require a subscription?

No, the core features and functionality of the Ecobee Smart Thermostat Premium, including remote control, scheduling, energy reports, and voice control, do not require a subscription.

Optional security or monitoring services, if offered by Ecobee, might have separate fees.

Can I temporarily override the schedule on my Ecobee Smart Thermostat Premium?

Yes, you can easily set temporary holds on the thermostat or via the app, which will maintain a specific temperature until a set time, a new schedule event, or until you manually cancel the hold.

Does the Ecobee Smart Thermostat Premium display outdoor temperature?

Yes, once connected to Wi-Fi, the Ecobee Smart Thermostat Premium can display the outdoor temperature and weather forecast on its screen, pulling data from local weather services.

Can the Ecobee Smart Thermostat Premium help with humidity control?

Yes, the Ecobee Smart Thermostat Premium includes a humidity sensor. Verizon Orbic Speed 5G Uw Mobile Hotspot Review

It can display indoor humidity levels and, for compatible HVAC systems, can control dehumidification e.g., by running the AC fan to improve indoor comfort.

What happens if my Wi-Fi goes out?

If your Wi-Fi goes out, the Ecobee Smart Thermostat Premium will continue to operate based on its last programmed schedule.

However, remote control via the app, voice commands, and access to weather data or advanced smart features will be unavailable until Wi-Fi connectivity is restored.

Is the Ecobee Smart Thermostat Premium Energy Star certified?

Yes, the Ecobee Smart Thermostat Premium is Energy Star certified, indicating that it meets strict energy efficiency guidelines set by the U.S. Environmental Protection Agency.

Can the Ecobee Smart Thermostat Premium send me maintenance reminders?

Yes, the Ecobee app can send you reminders for routine maintenance, such as changing your HVAC system’s air filter, which is crucial for maintaining system efficiency and indoor air quality. Hisense Px1 Pro Trichroma Laser Cinema Review

Is there a privacy concern with the built-in microphone for Alexa/Siri?

Ecobee states that the microphone is only active when you use the wake word “Alexa” or “Hey Siri” or when the mic icon is tapped.

You also have the option to disable the microphone entirely in the thermostat settings or through the Ecobee app if privacy is a significant concern.