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Internet of Things (IoT) is the newest craze when it comes to technology. This is what it often means when our devices turn “smart,” they are connected to the internet, have artificial intelligence (AI) systems on their own, and are deeply integrated with all other equipment you own.

However, there’s the stereotype that having smart devices or owning a smart home can put a large dent in your wallet. Ontario Green Savings, a Smart Home Rental Program Provider, is here to explain that it’s actually the other way around. By investing upfront in a smart home, you can potentially reduce your living costs while improving your quality of life. Below are some of the most surprising cost-saving benefits of having a smart home.

5 Cost-Saving Benefits of Smart Homes As Explained By Ontario Green Savings

Having a smart thermostat can help you cool and heat your home in a cost-efficient way

Current homes have thermostats that are operated manually. When one feels too cool, they crank up the temperature of the HVAC, and the opposite happens when it’s too warm. This pattern of extremes can cause an inefficient system that may hike up your electrical bill.

Ontario Green Savings explains that having a smart thermostat can automatically control the lower bid in your electric bill. It is also efficient in putting the HVAC in the right setting for a comfortable warmth or coolness.

Light use can be automated adding to more savings

Have you ever left lights on in any room the whole time you’re on vacation, and noticed that your electric bill went up that month? Or do you have the bad habit of leaving the lights on in rooms where you really shouldn’t? Having a smart home can make the process less tedious for you.

There are varying options you can use a smart switch to control lighting in your rooms:

Scheduling lights on and off:

You can set up your smart switch to turn on the lights at specific times during the morning and evening.

Movement sensor:

Another automated switch setting is integrated through a movement sensor. Basically, the light switches on when the device detects human motion. This saves time and effort going back and forth to turn the lights on and off.

AI-activated commands:

If you have a more flexible schedule, you can also use Google Assistant, Siri, or any other AI-activated system to command lights to turn on or off.

The ease and simplicity of these systems help homeowners save precious time while cutting off a fraction of their total electrical bill.

Saving water through smart water and irrigation systems

Ontario Green Savings also highlights the savings on having a smart home aren’t just limited to electricity, but also to your water bill. There are also smart water systems that can identify the type of garden soil that you have, so the right amount of irrigation will only be used depending on the season.

There are also home sink systems that expend energy depending on the calculated need. For example, some smart sinks will change water pressure based on your purpose of usage. Kitchen sinks will have a higher pressure for dishwashing, but bathroom sinks will have a gentler flow. Some smart faucets will also have an automated thermostat to keep the water temperatures at an optimum level.

Like electricity, water is also a finite resource that people tend to overuse. By using smart devices, one can save on their water bill while lessening their impact on the environment.

AI-powered refrigerator with cameras can help prevent food wastage

In case you’re wondering, how can a refrigerator become smart when it already serves its ultimate purpose? It turns out that innovators can continuously improve on all our appliance functions.

AI-powered refrigerators help prevent food wastage by adjusting temperatures depending on the type of food available. Some refrigerators have built-in cameras, so you can prevent double purchases, allowing you to view the things you already have and what you truly need. An additional feature is having a database of your food expiration date, making it easy to set reminders to prepare the food just before the items perish.

Smart plugs to prevent static use of electricity

Let’s face it–not everyone has the energy to plug and unplug all devices in their home that are being used intermittently. These include:

  • Televisions
  • Gaming consoles
  • Electric fans
  • Lamps

Instead of leaving these appliances plugged in, you can install a smart plug that turns off the flow of electricity when not in use. One can leave the appliances in the smart plug, and it will prevent static flow while controlling electrical surges. All these features save electricity while also maintaining your appliances in top condition.

Saving Money? Smart is the Way to Go

If you’re contemplating renting or owning a smart home, Ontario Green Savings highlights these wonderful features that prove just how much you can save in the long run. As technology improves our daily lives, our household not only becomes more efficient, but environmentally-friendly and cost-effective.

This content is a joint venture between our publication and our partner. We do not endorse any product or service in the article.