Smart Homes and Energy Bills: Does IoT Actually Save Money?

The cost of living has skyrocketed in the last couple of years, and we are all looking for new ways to lower our monthly utility bills. Owners of smart homes have noticed a difference because this technology can learn our habits and help us with energy usage.

Can IoT save money?

The Internet of Things is responsible for your smart homes, as all gadgets connect to the same network. While it sounds fancy and expensive, most smart devices are fairly affordable and could help you save money. Before you buy smart devices for your house, we should talk about smart homes and energy bills.

Smart devices don’t consume less electricity but can still make a difference at the end of the month. Using less energy with the help of the Internet of Things will get you there. Smart devices are designed to learn your patterns and needs. Thanks to that, your smart homes will know what you need and when. For instance, using smart LED light bulbs won’t directly save money, but the fact that you can control the light from your phone will help you turn off the lightbulb when you don’t need it, even if you are out of the room.

Are there any downsides to smart homes?

You might be asking yourself about the possible downsides of using smart devices in your home. The truth is that some gadgets are often targeted by cybercriminals, which could put your personal information in danger. Of course, learning about cybersecurity and applying different tactics to protect your network can prevent that.

Here is what you should do:

• Perform regular software updates on your smart devices. Install a new version as soon as possible because these are designed to fix bugs and other security issues. Enabling automatic downloads will save you some time. You can also visit the official websites of the manufacturers to check for updates.
• Use a VPN to add an extra layer of protection to your Wi-Fi network. With so many VPN advantages, this service is recommended if you want to protect your privacy and data. The powerful encryption will keep everything you send or receive secure, plus your location will remain hidden. One of the VPN advantages is the availability of geo-blocked content on streaming platforms with the availability of multiple servers. So if you want to watch a title currently unavailable at your location, VPN is the answer.

• Another thing that will keep your devices safe is creating a guest Wi-Fi network for your smart devices. If you experience a security breach on one of them, cybercriminals won’t be able to access your laptop, phone, or tablet. Therefore, you’ll protect your personal information and be free to deal with the cybersecurity issue without stressing out about your data. 

Smart home devices that save money

Are you thinking of upgrading your smart home with new gadgets? Adding just a few smart home devices will save you money over time. Here’s where to start:

Light occupancy sensors

How many times did you leave your bathroom light on without realizing it? Light occupancy sensors are perfect for almost every room in your home. They are made to turn off the lights when no one occupies the space. The lights will turn off and on when needed. Furthermore, these sensors can register natural light, yet another bonus.

Smart LED light bulbs

LED light bulbs are already serious energy savers, but if you upgrade to smart LED light bulbs, expect an even lower electricity bill. Users can control the light inside their homes with the help of their phones or smart assistants like Siri or Alexa. You can adjust the brightness and colors with just a couple of taps.

Thermostat

A smart thermostat is an excellent investment that should lower your monthly bills. Heating and cooling are expensive, and a smart thermostat will set the right temperature in your home without wasting energy. These gadgets come with various features, but the most valuable one is the ability to learn when you are out of the house. The device then creates a schedule and heats the house only when needed.