It does not do any wear leveling, but it only stores the value if it actually changes. If you changed the setpoint every hour 24 hours a day, 365 days a year, it should last over 11 years and if it starts losing data you can just swap the chip. Jean-Claude from jeelabs did a test and found that the EEPROM actually lasted 3,260,000 cycles so I never thought it could be an issue.