Over the past few years, smart home technologies have increasingly become more popular. Many people are embracing smart technology and smart homes due to the overall nice look of the equipment, enhanced security, convenience and money saving benefits that come with their use.
Statistics indicate that USA has the largest smart home technology market in the industry with $48 billion generated in revenues in 2014. The figure is expected to grow by $3.7 billion by 2021. If you haven’t adopted smart home technology, it is time to do so. Smart appliances reduce the amount of electricity consumption in your home.
Who wouldn’t want to pay less electricity bill every month? Experts found out whether smart appliances are worth initial investment and the answer is yes.
Why Smart Home Technology
Smart home technology offers the convenience in operation and reduced energy costs most people are looking for. Smart technology at home includes: washers and dryers, smart thermostats, smart fridges, smart lighting, smart power outlets and doorbells.
Although these devices existed a decade ago, customers are now embracing them more nowadays. Smart appliances have become popular due to the rise of smart meter technology. This simply means that electric companies offer time to use electricity that involves high and off-peak time. Between 10 am and 7 pm is the high peak of using electricity.
During this time, the price of electricity is higher than off peak times. Therefore, if you are financially conscious, it is in your best interest to consume electricity during off peak hours. However, this is only possible when using smart home technology.
Smart appliances are convenient to control so you can easily save energy costs. For instance, during the weekend, when energy costs are low in the morning, put your smart refrigerator to energy intensive defrost mode. You can also program your smart dishwasher to do the washing in the late hours of the night to conserve energy.
With smart lighting, you are able to turn them on and off when away, even during vacations. This is a good way to keep your home secure as no one can imagine you are not around. Moreover, smart lighting can change color, dim or turn off to save energy.
The initial cost of LED bulbs is higher than that of regular bulbs, but in the long run they help save up to $35 annually per bulb. More than half of household expenses go to heating and cooling. Smart thermostats can adjust whether you are in the house or not and can help reduce your bill by up to 25%.
Unnecessary expenses and bills in a household are brought about by standby power, contributing to about 16% of your total electricity bill. With smart power outlets, you are able to restrict power drain through sockets, saving you up to 16% of electricity bills.
Installation of Smart Home Technology
The average cost of installing a home appliance is $189, according to Home Advisor’s True Cost Guide. The advantage of installing these smart appliances is that they have pretty low maintenance costs. You don’t have to always check for upgrades or incur maintenance costs.
Look for a technician with experience in handling smart devices to help you do the installations. The HVAC technicians, electricians, handymen and other home service technicians can do the installations successfully. As a result, you shouldn’t have a problem getting a technician to assist you with installation.
Is Home Technology Worth the Investment?
As long as smart technology fits within your budget, it is worth the investment. It is important to note that the initial investment in smart home appliances can be costly. Therefore, you can come up with your monthly budget and save for the smart devices. Once you have enough money, purchase the smart appliance you want in your home.
A financial advisor, Kathryn E Seymour, said that the device pays for itself in one year. Not only can smart appliances save you energy and money, but also help you avoid simple mistakes such as forgetting to switch off lights. With smart appliances, you do not have to worry about leaving your air conditioner or heater on when you’re away from home.
The energy smart devices assist in saving would have been wasted if such mistakes occurred.
You can switch off your smart air conditioner from wherever you are such as the comfort of your office. A smart refrigerator can send you a signal wherever you are if its door is left open. Smart devices assist in reducing energy consumption, ultimately lowering monthly bills and improving lives.
You can also derive savings from smart home appliances simply because manufacturers can perform diagnostics for the device. In case an appliance breaks down, contact your manufacturer to run a remote diagnosis so the technician knows what spare parts to bring.
If you are a time conscious person, you can benefit from saving time as it eliminates the chances of a technician coming to your house twice.You will save from home insurance too. Some insurance companies offer 5 % discount for home owners with smart home technologies.
Even so, the savings won’t be seen overnight. You have to save a lot over time. Imagine saving up to 80% of energy using one LED light. If you replace all bulbs in your home, you can surely save a lot. Clearly, smart technology is worth initial investment.
Where to Start
Start by checking out the 2-pack Etekcity Volts on wireless Smart Plug mini outlet. The plug helps in keeping track of energy use through voice or an app to regulate energy. Philips Hue LED bulb can also aid in changing your house lighting according to your interests in terms of color and brightness.
The Nest Learning Thermostat learns your habit of controlling the thermostat and adjusts automatically, reducing energy use. For health conscious individuals, try the Krups Air Fryer that not only cooks healthy foods, but faster.
Smart home appliances come in all variations for you to add to your smart house. Create a budget, save, purchase your desired smart devices and make your house a smart home driven by technology. After all, it is proven that the investment is worth it.