Smart Home Upgrades That Actually Save Money: What’s Worth Installing and What Isn’t
The smart home device market has grown to include smart light switches, smart doorbells, smart refrigerators, and approximately a thousand other products that add connectivity to things that worked perfectly well without it. Most are solutions in search of a problem. A small number produce genuine, measurable reductions in utility bills. Here is how to tell the difference.
Smart Thermostats: The Best ROI in Smart Home
A smart thermostat — the Nest Learning Thermostat, Ecobee SmartThermostat, or Honeywell Home T9 — adjusts your home’s heating and cooling schedule based on your actual usage patterns, occupancy detection, and remote control through a smartphone. The Department of Energy estimates smart thermostats save 8 to 15 percent on heating and cooling costs. At the average household’s $1,400 annual heating and cooling spend, that’s $112 to $210 per year in savings. A quality smart thermostat costs $130 to $250 and typically pays for itself in one to two years. This is the smart home device that most consistently delivers on its promise.
Smart Power Strips: Eliminating Standby Power
Electronics in standby mode collectively consume 5 to 10 percent of a home’s electricity. Smart power strips that detect when a primary device like a TV is off and cut power to connected devices like the cable box and game console eliminate this standby draw automatically. For home office setups, a smart outlet that cuts power to the monitor, printer, and desk lamps when your computer is shut down produces meaningful monthly savings in exchange for a $25 investment.
Smart Irrigation Controllers
A smart irrigation controller that adjusts watering schedules based on local weather data — reducing or eliminating watering after rain — can reduce outdoor water use by 30 to 50 percent compared to a fixed-schedule timer. In drought-prone regions with significant water costs, this translates to meaningful bill reduction. The Rachio 3 and Rain Bird smart controllers qualify for rebates from many water utilities, improving the return on investment further.
