According to a study by the National Renewable Energy Laboratory (NREL), homeowners who install smart home devices can save an average of $131 per year on their energy bills. The study found that the most significant savings can be achieved by installing smart thermostats and smart light bulbs. Smart thermostats can save homeowners an average of $131 per year by automatically adjusting the temperature when no one is home. Smart light bulbs can save homeowners an average of $74 per year by turning off lights when they are not in use.
Here are some other examples of how smart home devices can save homeowners money on their utility bills:
- Smart sprinkler controllers: Smart sprinkler controllers can save homeowners money on their water bill by automatically turning off sprinklers when it rains or when the lawn does not need watering.
- Smart security systems: Smart security systems can save homeowners money on their energy bill by automatically turning off lights and appliances when no one is home.
- Smart water meters: Smart water meters can help homeowners identify leaks and other water problems that can waste water and money.
The amount of money that a homeowner can save on their utility bills by installing smart home devices will vary depending on a number of factors, including the size of the home, the climate, and the type of smart home devices that are installed. However, the data shows that smart home devices can be a cost-effective way to save money on energy bills.
Here are some additional tips for saving money on your utility bills with smart home devices:
- Set up schedules: Many smart home devices allow you to set schedules for when they should turn on and off. This can help you save energy by ensuring that devices are only running when you need them.
- Use geofencing: Geofencing is a feature that allows devices to turn on or off based on your location. This can be helpful for things like turning off the thermostat when you leave home or turning on the sprinklers when you get home.
- Use automation: Automation is a feature that allows devices to work together to save energy. For example, you can set up automation so that your lights turn off when you leave home and turn on when you come home.
By following these tips, you can save money on your utility bills and make your home more energy-efficient.