Yes and for example in the winter, for every degree you decrease your thermostats temperature setting this decrease will translate into approximately three percent savings in your heating cost. It works the same in the summer, however, you would be increasing the thermostats temperature setting. When setting back temperatures in winter make sure not to set the thermostat back more than three degrees. The reason for this is that you do not want the system to turn on the emergency heat strips, which will happen with larger setback temperatures and is very inefficient.