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Can a Smart Home Really Help you Save Money?

Can a Smart Home Really Help you Save Money?
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Smart homes and smart technologies have become popular buzzwords over the past few years. From basic smart appliances, to fully-featured smart home solutions, many people are buying into the promise of reduced bills and an overall cool look for the house.

    Aggressive marketing techniques have seen the smart homes market grow into a multi million-dollar outfit; Statista puts the revenue figures at around US$927 million in the UK alone for 2016. In the United States, the industry is even bigger, at a massive US$48 billion in 2014, according to this infographic. Even with such crazy numbers, the industry shows no signs of slowing down, and is expected to grow to about US$3.7 billion in 2021.

    Globally, the rate of penetration for smart home technologies is expected to reach 38.7% by 2021, up from 2016’s 8.2%. Part of the reason why the industry is growing at such a high rate is the expectation by smart homeowners that they will accrue massive savings by using smart tech. So, how much should you expect to save with smart tech, if you do manage to squeeze something out of your annual expenses?

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    How Smart Tech Will Help You Cut Costs

      Smart tech often includes devices such as thermostats, refrigerators, air conditioners, and other home equipment that come with Wi-Fi capabilities. This setup allows you to control these smart devices remotely via an app on your smartphone, and even monitor usage to control consumption to possibly save costs.

      These aren’t cheap, though, with some going for hundreds or even thousands of dollars for complete smart systems. It will be years, however, before you can recoup the costs of acquiring such systems. For example, an investment of about US$5,000 will usually yield costs savings of about US$100 each year, which isn’t feasible for most people who are renting an apartment.

      With their high initial capital outlay, smart tech usually works well for landlords and homeowners who stand to gain cost benefits for the life of the tech. Many tenants will get smart devices for aesthetics and to reduce their impact on the environment, but rarely for significant cost savings. For homeowners and tenants who want to save every penny they can out of their monthly bills, it pays to plan ahead.

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      There are many ways you can save money by installing smart devices, and here are some of them.

      Smart Thermostats

      Heating and cooling take a huge chunk of monthly bills, with individuals spending up to half of the average household budget on them. Smart thermostats can adjust themselves in response to someone’s presence in the house, ensuring they are set to low or turned off when no one is around. Programmable thermostats can help you save up to 25% of the heating and cooling bill.

      Smart Lighting

      Lighting is only second to excessive heating when it comes denting the monthly bill. A smart lighting system can dim, turn off, or change the color of your bulbs for maximum energy savings. LED bulbs often cost more than regular bulbs, but can help you knock off at least US$35 per bulb annually.

      The water bill is another little-known area where individuals can save cash. This water utilization infographic by bathroom accessories company Big Bathroom Shop shows just how important water is for everyday life. Smart sprinklers automatically adjust the amount of water they let through according to the weather report, which can shave off up to 50% of the water bill.

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      Smart Power Outlets

      Standby power use is a significant contributor to energy wastage and unnecessary expenses, contributing to about 16% of the electricity bill. Smart power outlets enable you to monitor and restrict energy drain via the sockets, which can save you up to 16% of the electricity bill.

      There are hordes of other energy-saving devices that you can use for your home. Each will give you varying levels of energy and cost savings, so plan wisely before diving in.

      If you are a tenant, sometimes the right energy savings can be achieved by moving into a house that already has the proper energy-saving equipment and gadgets already installed. After all, moving into a smart home is much easier than assembling one.

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      Image Credit:

      Application money Via Pixabay, Man making a roof gesture on piggy bank Via Freepik

      Featured photo credit: hswstatic via s.hswstatic.com

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      Last Updated on July 12, 2021

      100 Incredible Life Hacks That Make Life So Much Easier

      100 Incredible Life Hacks That Make Life So Much Easier
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      Want to learn some quick and easy life hacks that are easy to do, low cost and saves you time?

      By tweaking little things in your daily life, it can make your life much more convenient!

      Here’re 100 of the most practical life hacks so you can just pick up any of them right away!

      83 tie a small piece of bright colored fabric

        84 write random letter

          85 use a rubberband

            86 dorm smell bad

              87 lean your phone on your sunglassess

                89 how to waterproof your shoes

                  90 take a picture of the name card

                    91 iron inside out

                      92 old newspaper

                        93 tumble try shoes

                          keep a card like this

                            SONY DSC

                              94 soap bar

                                95 make a hole

                                  96 drop the battery

                                    97 use a coozie

                                      98 when taking a picture

                                        use a clean dust pan

                                          try a pants hanger

                                            use your cellphone light

                                              use a spring from an old pen

                                                quick and easy iphone speaker

                                                  user binder clips

                                                    wrap a wet paper towel around your beverage

                                                      put pancake mix in a ketchup bottle

                                                        clean out an old lotion bottle for your beach

                                                          use a muffin tin to serve condiments at a bbq

                                                            doritos are great for kindling

                                                              use nail polish to identify different keys

                                                                use a hanging shoe rack to store cleaning supplies

                                                                  freeze grapes to chill white wine without

                                                                    use paper clips to organize your cables

                                                                      almost finished your jar of nutella

                                                                        sick of having a box full of tangled

                                                                          unroll the rim to increase the capacity

                                                                            cut open toilet paper rolls and use as a cuff

                                                                              remove the stem from strawberries

                                                                                turn an old bottle into a simple little cord holder

                                                                                  for iced coffee and iced cappuccino, use frozen coffee cubes

                                                                                    how to fold a fitted bed sheet

                                                                                      tired of snoozing past your alarm

                                                                                        place a rubber band around an open paint can to wipe your brush on

                                                                                          ut a wooden spoon across a boiling pot

                                                                                            use bread clips to save flip-flops

                                                                                              take pictures of friends holding items

                                                                                                how i always know which headphone is the left one

                                                                                                  put a stocking over the end of a vacuum

                                                                                                    How to make sure you drink enough water

                                                                                                      user a can opener to open blister

                                                                                                        good sandwich guide

                                                                                                          turn your muffin pans upside down

                                                                                                            50 pounds of groceries and living on the 5th floor

                                                                                                              the right way to make a blt

                                                                                                                add one teaspoon of baking soda

                                                                                                                  38

                                                                                                                    hair straighteners equals to collar irons

                                                                                                                      stack your clothes vertically to see them all

                                                                                                                        the right way to make cookies in the summer

                                                                                                                          how to clean a blender

                                                                                                                            the right way to eat a popsicle

                                                                                                                              use bread clips to label and organize power cords

                                                                                                                                to get the built up residue off of your shower head

                                                                                                                                  user a hair clip to orgainize long wires

                                                                                                                                    a frozen saturated sponge in a bag

                                                                                                                                      rub stuck zipper teeth with a graphite pencil

                                                                                                                                        use a soda pop tab

                                                                                                                                          50

                                                                                                                                            51 How to multiply large numbers in your head.

                                                                                                                                              52 How to open a bottle if you dont have a corkscrew.

                                                                                                                                                rub a walnut on damaged wooden furniture

                                                                                                                                                  kids fall out of bed

                                                                                                                                                    use toothpaste to clear up hazy car

                                                                                                                                                      58

                                                                                                                                                        59 keep pizza out while driving home

                                                                                                                                                          60 put your straw through the tab to keep it from rising

                                                                                                                                                            hold oreos with a fork so your fingers

                                                                                                                                                              Never lose your remotes again

                                                                                                                                                                hiding your emergency money

                                                                                                                                                                  use a bread tab to hold your spot on a roll

                                                                                                                                                                    if you are at a hotel and run out of chargers

                                                                                                                                                                      keep a square of cardboard in a ziplock bag

                                                                                                                                                                        If you need to pee or smoke at a bar

                                                                                                                                                                          drill holes in the bottom of your garbage

                                                                                                                                                                            use an accented letter as your passcode

                                                                                                                                                                              use a squeeze ketchup bottle top with your shopvac

                                                                                                                                                                                do something unusual when locking the door

                                                                                                                                                                                  when heating leftovers space out a circle in the middle

                                                                                                                                                                                    dont burn yourself in those hard to reach candles

                                                                                                                                                                                      put a small amount of water in a glass when you microwave your pizza

                                                                                                                                                                                        75 use a piece of paper to organize

                                                                                                                                                                                          use half a pool noodle

                                                                                                                                                                                            pencil case to store cables

                                                                                                                                                                                              78 clothespin to hold nail

                                                                                                                                                                                                79 make blts

                                                                                                                                                                                                  80 take a picture of your fridge

                                                                                                                                                                                                    81 fill plastic water bottles

                                                                                                                                                                                                      82 right ways to eat chips

                                                                                                                                                                                                        99 if your plug keeps failing

                                                                                                                                                                                                          100 put the banana on the wire

                                                                                                                                                                                                            88 before you throw away a post it

                                                                                                                                                                                                              Source: Reddit LifeProTips

                                                                                                                                                                                                              There you go, 100 awesome life hacks that you can try right now to make your life a lot easier!

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