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Freelance contributor and financial analyst Shiv Nanda, shares 7 ways that smart home appliances can help to save you money.  

By Shiv Nanda

Smart Home App: Hive

Smart Home App: Hive

If you are questioning how much does it cost to have a smart home then you’ve come to the right place. Perhaps you’re thinking that a smart home will create a large dent in your wallet? Well, as a matter of fact, having a smart home will help you to save money in the future.

Smart home technologies have far-reaching benefits for homeowners who can reduce their energy consumption immediately and accumulate massive savings in the long-term. For those who are still wondering if these smart home appliances are worth investing in, here are 7 ways the addition of smart home appliances will make your home energy efficient and bring you to cost benefits throughout the service life of the technology!   

Smart home appliances simplify day-to-day life and save energy:

Investing in smart home appliances is not cheap but the upfront cost can be easily covered with an affordable consumer durable loan and you will soon find yourself saving money in the long-term! They’re a no-brainer for those who seek a smart home upgrade. And, most smart home appliances will not only pay for themselves over a very short time span but also make a massive difference to your overall power consumption. With smart assistants like Amazon’s Alexa and Google’s Assistant, homeowners can make their homes more energy efficient and save a lot of money in utility bills over the long-term.

Smart plugs monitor energy usage and save money:

Wi-Fi enabled smart plugs allow homeowners to exercise complete control over multiple appliances from anywhere, anytime. An ideal solution for high-risk electronics like straighteners and irons, these smart plugs facilitate remote operation of appliances with on/off schedules. They not only protect your costly home appliances but also monitor the usage of energy and help you save big on your electricity bills. 

Smart thermostats significantly improve energy efficiency:

A thermostat is a smart investment that allows you to cut back on your heating and cooling needs. This handy device senses and regulates the temperature of your home in real-time and adapts to your preferences over time. A thermostat will automatically switch off your AC when you leave home and adjust temperature variations to suit local weather conditions.  

Smart lighting solutions and LED bulbs help you cut costs:

Lighting alone accounts for 15% of the world’s power consumption and 5% of global emissions. Replacing CFL light bulbs with smart light bulbs can help cut down your power consumption by 75%. Smart lighting solutions also allow you to customize, schedule and control your lights according to your preferences. Still unsure about switching to LED lighting? Check out our blog post highlighting why you should make the switch over to LED bulbs – here. 

Remote power management reduces anxiety in an instant:

On the way to work do you find yourself wondering “Did I switch off the light in the bathroom?”. Leaving lights, fans, humidifiers, or air conditioners on when you’re out or because you forgot to turn them off is a huge waste of electricity. Adding a remote power management system between the device and the wall outlet will ensure electrical safety even if you are prone to leaving devices on. Homeowners also get an instant response which reduces their anxiety on the spot.

Smart blinds regulate the temperature and prevent unnecessary energy expenses: 

Smart blinds are designed to make the most of daylight while keeping the heat out even during scorching summer days. These blinds can be pre-programmed to open and close at specific times to regulate the heat a room is exposed to. This in turn, considerably reduces the need for cooling during summer and keeps the interiors warm during winters by letting the sun heat the room.

An infrared thermometer is incredibly efficient at identifying energy leaks:

An infrared thermometer, when combined with other devices, makes for an incredibly efficient tool for identifying energy leaks. It is an investment that will help you save cash right away by giving accurate readings so you can track where the money you spend on cooling or heating your home is leaking away. 

Smart home appliances provide varying levels of energy and cost savings. So, if you want to step up your energy savings game and help the planet too, squeeze some money out of your budget to invest in smart home appliances. And if that is not doable, then taking a consumer durable loan also makes perfect financial sense. So check out smart devices today and simplify your life! 

If you are interested in buying the best smart home devices for your house, be sure to head to our website now to view our full range of smart products. 

 

Author bio:

Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com

Helen Durkin

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