The Cost-Efficient Future of Home Automation
February 19, 2024
When Debbie and I started our smart home journey, it was mostly a tech guy finding new toys and his wife letting him play with them. Since then we’ve both learned a lot about smart home technology and all the advantages the different devices bring to the table. We had no idea early on about all of the convenience and efficiency.
Despite the huge benefits of smart home technology, some people seem hesitate to adopt it. The most common reason is perceived difficulty or high installation and maintenance costs. But the real truth is adopting smart home devices can reduce costs. Imagine living in a house where lights turn off when not needed, temperature is set automatically to optimize energy usage, and smart home devices collaborate on many levels to develop an economical and intelligent space. The integration of smart home tech can transform average, everyday living into a modern experience with high efficiency and cost savings.
The huge applications of cost-saving smart home technologies have shown an increase in adoption. From doorbells to lighting and refrigerators, the adoption of smart home devices in the US has been on the rise. To understand just how quickly the US smart home market has grown, we only need to go back a few years.
Smart home statistics show that in 2019, 42.99 million households were using smart home devices — less than two-thirds of what there are today. This figure has grown by an average of 10.2% every year since, reaching 47.38 million in 2020 and then 52.22 million in 2021, surpassing 50 million for the first time.
Smart home statistics show that in 2022, the number of smart homes continued to grow, hitting 57.55 million. Experts attribute this growth to an increase in time spent at home and advancements made in technology, including improvements to natural language processing and improved integration among smart home devices.
This means that in 2025, the number of smart homes in the US is estimated at 77.05 million. This will rise to 84.92 million in 2026, before growing to 93.59 million in 2027. By 2028, there will be more than 100 million households using smart devices in the US.
With growth like this there is going to be a lot of opportunity for cost-savings with smart home technology.
Smart sensor monitoring and management systems develop a connected space where sensors work together. The systems collect data in real time and allow constant monitoring and analytics. They allow you to access all the sensors installed in your home and building and turn them on or off via your smartphone.
You can also check sensor health and analytics to enjoy a seamless and safe experience. Sensor management systems allow you to enjoy automatic light adjustment and temperature and humidity control, resulting in energy conservation and reduced electricity bills. Predictive maintenance capabilities allow you to identify potential issues before the equipment completely fails, saving repair costs and extending the lifespan of the equipment.
Many people are not aware that 50% of their household energy expenditure is linked with the Heating and Cooling (HVAC) systems. If you are using an HVAC system that relies on manual adjustment, there are possibilities that it is working below its efficiency potential. It also regulates temperature in an unoccupied room, consuming electricity that contributes to your bill.
According to the data evaluation by the Environment Protection Agency, the use of smart HVAC systems saves around 8% on their utility bills. The automated temperature control and zoning capabilities help achieve the desired temperature and work only when the room is occupied, substantially reducing electricity expenses. And you can control the HVAC system via mobile to enjoy the most comfortable experience. And in many cases, your energy company may offer smart thermostats for free or at a discount as another way to curb energy consumption and expense.
Unfortunately, 50% of the water you use outdoors is lost due to evaporation, heavy wind flow, and runoff caused by inefficient irrigation systems. A household with a poorly maintained or lacking an upgraded irrigation system contributes to a water waste of 25,000 gallons yearly.
You can reduce water waste by shifting to a smart water management system with smart shower heads and touchless faucets as these devices help to control water flow. Integrated sensors automate targeted watering, adjust water flow according to real-time weather conditions and soil moisture levels, and automate shutoff features to save water and energy consumption. Also, smart water leakage detectors detect leaks and irregular water flows, preventing water wastage and contributing to a sustainable living environment.
The reliance on WiFi and Bluetooth connectivity allows you to control appliances and monitor systems in real-time without wiring and controller installation that adds cost. Using existing appliances wisely saves automation costs and reinforces your smart home ecosystem.
Lighting accounts for over 15% of the total electricity usage of an average home. A time-based lighting control system incorporates motion sensors and dimmers which can optimize your lighting efficiency and save costs.
Motion sensor lights enhance efficiency by turning on lights only when someone is in the room or passing by it and can save up to 50% of your energy usage. Additionally, using smart dimmers allows the adjustment of lighting intensity, allowing you to enjoy a customized ambiance and experience a reduction in electricity bills. Choosing such smart lighting control systems also allows you to align with sustainable lifestyle practices.
Smart washing and drying systems have advanced features like energy-efficient cycles, load sensing, automatic speed control, and smartphone connectivity. By shifting to these type systems, you can optimize your work, save time, conserve energy, and cut billing costs. Electricity consumption for washers averages from 400 to 1,400 watts — the exact amount depends on the type washer you own. A washing machine used three times per week will use around 140.4 kWh of power annually, averaging $19.92 per year.
Smart plugs allow you to expand your smart home capabilities without more expensive infrastructure to power off devices completely when not in use. With smart plug integration, you can save up to 1- 4.58% of electricity annually, adding yet another way to save electricity and cut costs.
Smart motorized shades optimize room temperature by regulating heat entry and escape in all the exterior rooms in your home. This helps drive a reduction in seasonal air conditioning and heating bills throughout the year. You can control the sunlight entering your room via smartphones, replacing the need to manually adjust the curtains or shades on windows. Smart shades can also sync with lighting solutions, temperature control systems, and occupancy sensors. This synchronization allows the shades to respond intelligently to external temperature and room occupancy, enabling you to enjoy a comfortable room environment with substantially reduced electricity bills.
Smart security and surveillance systems protect your property and minimize the risk of costly incidents like robbery. Real-time alerts and remote monitoring provide continuous vigilance even when you are not at home. The addition of smart locks and smart garage door openers add another level of security. Smart locks provide intelligent access control, allowing you to unlock your door via smartphone. Similarly, smart garage door openers empower you to control garage entrances and instantly alert authorities in case of suspicious activity.
Many of these systems also contribute to potential insurance savings. Many insurance companies offer homes with smart security systems discounts, reflecting long-term savings for you.
Overall, smart home technologies offer numerous opportunities for saving money by improving energy efficiency, water conservation, home security, appliance efficiency, shopping and budgeting, insurance premiums, time-of-use optimization, home automation, and providing data-driven insights into resource usage.
By integrating devices, smart home technology can allow you to experience living in a cost-effective and eco-friendly environment. It allows you to control most aspects of your home with your voice or smartphone and enjoy a comfortable experience. The synchronization of different smart home devices allows you to optimize your daily living operations, make informed decisions and contribute positively towards energy conservation and sustainability. While the installation cost of smart home tech can be a consideration, the long-term benefits and cost-saving smart home technologies are a forward-thinking investment.
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