Smart Home

5 Smart Home Gadgets to Help You Save Money

5 Smart Home Gadgets to Help You Save on Monthly Bills

Did you realize that incorporating smart home gadgets into your home can lead to significant cost savings? Despite the initial expenses involved in enhancing your home’s intelligence, numerous top-tier smart home automation devices are designed to help minimize your utility bills. Some of these devices are even equipped to mitigate damage in case of unforeseen disasters like floods, thereby offering additional savings.

By opting for a do-it-yourself (DIY) smart home setup, you could potentially save thousands of dollars, and these savings aren’t limited to the installation phase. Many smart home devices come with features that monitor and regulate energy consumption, ensuring they do not consume unnecessary power when idle. Particularly, smart plugs, smart lights, and smart thermostats are renowned for their energy-efficient capabilities. Additionally, devices like flood detectors or automatic water shutoff systems serve as preemptive measures against potential damages resulting from a burst pipe within your home.

In any case, your smart home devices should contribute to saving you money, provided you select the right ones. While there are more radical cost-saving measures such as transitioning to solar panels to curtail energy expenses — for which we’ve outlined seven crucial factors to consider before making that investment — we’ve also outlined the primary categories of smart home gadgets that can contribute to replenishing your wallet.

Smart Plugs

Smart plugs stand out as one of the most budget-friendly and user-intuitive smart home gadgets, yet the finest among them, including outdoor smart plugs, possess greater intelligence than meets the eye. Leaving lamps or decorative lights, such as Christmas lights, switched on when nobody is at home results in energy wastage. However, with a smart plug, you can monitor its status conveniently through your smartphone, regardless of your location—even if you’re at home and just feeling a tad too lethargic to move. Moreover, these ingenious devices can be scheduled to activate or deactivate at specific times, ensuring optimal energy usage.

Additionally, many smart plugs often come equipped with energy-monitoring functionalities accessible through a companion app. This feature enables you to track the energy consumption of all your connected appliances when in standby mode, empowering you to make informed decisions about cutting off power to devices that aren’t in use. For instance, the TP-Link Kasa Smart Plug Mini, priced at $22, boasts a compact design with a single outlet, encompassing all these capabilities. For those seeking multiple outlet options with individual on/off controls, an excellent choice is the $80 smart power strip.

Smart Lights

Smart lights present yet another cost-effective and efficient method to save money. Depending on the type of bulbs currently illuminating your home, incorporating smart light bulbs can lead to reduced monthly energy expenses, courtesy of their utilization of LED technology instead of incandescent and halogen bulbs. Notably, LED bulbs not only contribute to decreased energy consumption but also boast significantly longer lifespans, requiring infrequent replacements.

Among the most popular smart lights available are the Philips Hue lights, encompassing a diverse array of bulb shapes, smart light strips, and permanent smart light fixtures. While Philips Hue lights may not rank as the most cost-efficient option, their extensive range of features and compatibility with various other smart home devices remain unparalleled. However, Fibaro, Qubino, Sengled, Lifx, Wyze, Wiz, TP-Link Kasa, and GE’s Cync are also smart light brands that we highly recommend exploring for their quality and functionality.

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Smart Light Switches

Smart light switches provide an alternative worth considering, especially for larger homes, when aiming to economize. Opting for smart switches over smart light bulbs might prove more advantageous in terms of cost savings. However, installing smart light switches requires a bit more effort as it involves familiarity with neutral wires. Yet, if your home encompasses numerous light sockets, this choice could lead to substantial savings. Typically priced between $40 to $60, smart switches vary in cost based on brand and features, offering compatibility with various basic LED bulbs.

Among the top choices, the Aeotec Smart Switch stands out as the premier smart light switch. Furthermore, certain smart switches transcend the conventional role of a mere light switch. For instance, the Brilliant Smart Home controller serves as a comprehensive smart home command center, integrating multiple light switches and featuring a display panel to manage the entirety of your smart home devices.

Smart Thermostats

Similar to smart plugs and smart lights, top-tier smart thermostats possess the capability to reduce your utility expenses. A majority of these smart thermostats come equipped with an energy-usage dashboard accessible through a companion app. This feature allows you to monitor usage patterns and comprehend the impact of your temperature settings on your home’s energy consumption. The app grants you the ability to fine-tune temperatures more accurately and frequently throughout the day or automate temperature adjustments based on your daily routines. Remarkably, the Amazon Smart Thermostat goes a step further by leveraging Alexa Hunches to make automatic adjustments.

Furthermore, smart thermostats offer an additional avenue for cost savings. Numerous energy companies extend rebates for the acquisition and installation of smart thermostats. For instance, Con Edison provides incentives for reducing energy usage during peak hours or seasons by enrolling in a program utilizing thermostats like Nest. Similarly, PG&E offers a $120 rebate upon installing an eligible smart thermostat. If you already own a smart thermostat but haven’t availed yourself of a rebate or incentive, it’s advisable to explore the offerings provided by your energy provider.

Smart Water Leak Detectors

Smart water leak detectors emerge as invaluable assets, particularly for regions experiencing chilly temperatures, potentially saving homeowners substantial sums of money. Alongside familiarizing yourself with methods such as insulating windows for winter and bleeding radiators, understanding how to safeguard your pipes during colder months and investing in a smart water leak detector is paramount.

In regions prone to freezing temperatures, pipes are susceptible to cracking, and statistics from Fixr indicate an average repair cost of $500 for a burst pipe. When factoring in the value of personal belongings or the expense of replacing damaged carpets, the resulting damages can quickly escalate to a substantial financial burden.

Premium smart water leak detectors excel in detecting early indications of pipe leaks, promptly notifying you either through an audible alarm while at home or via push notifications on a smartphone app when away. This immediate alert allows for swift action to shut off your home’s water supply, potentially mitigating extensive damage.

Furthermore, certain water leak detectors form part of sophisticated smart water shutoff systems designed to automatically halt water flow in your home at the first sign of a leak. Among our top recommendations are the Flo by Moen smart water shutoff device and the Phyn Plus Smart Water Assistant. It’s worth noting that both devices necessitate professional installation by a plumber as they are to be installed in-line with your house’s primary water supply.

Read more: Best Smart Sensors for Your Smart Home in 2023

In Conclusion

Embracing these five smart home gadgets isn’t merely a trend; it’s a strategic move toward cost-efficient and sustainable living. From optimizing energy usage with smart thermostats and lighting to reducing water wastage with efficient controllers and leak detectors, each gadget plays a crucial role in curbing monthly expenses. Moreover, with their remote control and automation features, managing these systems becomes effortless, allowing homeowners to focus on other aspects of their lives while enjoying reduced utility costs.

While the initial investment in smart home gadgets may seem daunting, the long-term benefits in terms of savings and efficiency make them a prudent investment for any homeowner. Beyond the five gadgets outlined here, the smart home landscape continues to evolve, offering even more opportunities to cut down monthly bills. By incorporating these intelligent devices into your home, you not only embrace modernity but also take proactive steps toward financial savings and a more eco-conscious lifestyle.

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