Smart Home Devices Save Americans $347 on Utility Bills every Year
HomeNewsSmart Home Devices Save Americans $347 on Utility Bills every Year

Smart Home Devices Save Americans $347 on Utility Bills every Year

Nellius Mukuhi
Nellius Mukuhi
3rd Mar 2023
  • Smart home gadgets can help American households save nearly $100 on energy bills.
  • They can also save users over 180 hours annually by automating mundane tasks.

Smart home gadgets have become essential for many American households, changing how they live and manage their homes. From smart thermostats to robot vacuum cleaners, they can make life easier and allow people convenience they have never experienced before. Additionally, they are the perfect fit for sustainability-conscious individuals helping them save tons of money on energy bills.

According to BanklessTimes.com, smart home items can help American households save money on yearly energy bills. We have calculated that the use of the below smart home appliances can save the average US household $347 on their utility bills every year, taking data on the cost per kWh, and the cost per gallon of water to then calculate how much a US household can save.

BanklessTimes CEO Jonathan Merry recently weighed in on smart homes and how they might reduce monthly energy bills.

Smart homes can improve our lives in many ways, particularly when reducing energy wastage. They can intelligently remember the use patterns and adjust accordingly for optimum power-saving efficiency. This will likely result in much lower monthly energy bills and significantly reduced overall energy use over time.
Jonathan Merry, CEO of BanklessTimes.com

Merry adds that Smart home gadgets can save time by automating mundane tasks. Per the BanklessTime report, an average American saves up to 30 minutes daily using these devices. That adds up to 3.5 hours a week, 14 hours a month, and over 180 hours a year! With the extra time, you can exercise, take up a new hobby, spend time with family, or give yourself some well-deserved rest.

How much money does each smart appliance save?

Smart home gadgets have taken the convenience of living above and beyond. With the proper devices, one can not only save on energy but ultimately reduce expenditure as well. Many options are available for these energy-saving gadgets, from smart thermostats to LED lightbulbs. Here's an overview of the top four products:

1. Smart Bulbs

Smart bulbs are an excellent way to start your journey into a more energy-efficient lifestyle. These bulbs connect to your home's Wi-Fi connection and can be controlled through voice commands or mobile apps, allowing you to adjust the lighting from anywhere in the world.

They also have various time settings, allowing users to set when they turn on/off and dimming levels. This helps reduce electricity costs by ensuring lights aren't left on unnecessarily.

An average incandescent bulb consumes 876 kilowatt hours (kwh) annually when lit for six hours daily. On the other hand, a smart bulb will use only 16.2 kWh of electricity with similar usage. While the former will set you back roughly $161.7 yearly, the latter will only cost you $3, allowing you savings of approximately $159.

2. Smart Plugs

Smart plugs take advantage of modern technology by turning off devices that may not need running all day. You can control these devices via their app or voice command, choosing when to turn specific appliances on/off remotely. Alternatively, you can set timers, so they automatically switch off at certain times throughout the day, further reducing electricity costs.

On average, these devices help you cut your power consumption by nearly 750 kwh yearly, translating into savings of $67.,

3. Smart Thermostats

A smart thermostat allows users complete control over their home's temperature level, creating a much more efficient heating system than manually adjusting the dials throughout the day. These appliances connect via Wi-Fi and can be programmed using mobile apps or voice commands for easy operation and maximum efficiency.

These devices lower energy bills by only heating or cooling your home when needed without sacrificing comfort levels. On average American households spend $1359 on heating during winter. A Smart thermostat cuts power consumption and therefore costs by 8% or $109 annually.

4. Smart Shower Heads

Many unknowingly waste energy by taking long showers – something smart shower heads can prevent. These showerheads connect to your nearby Wi-Fi network and display timer readings that count down how long you've been under the spray, giving you real-time feedback on your shower time so you know exactly when it's time to wrap up!

As well as helping conserve water, these showerheads reduce the electricity consumed during heating operations. A typical American uses 8 gallons of water showering, which adds up to 7300 gallons yearly at the cost of $21.5. Smart shower heads cut the amount of water one uses by up to 60%. That reduction would translate into a similar drop in the amount spent on water hence savings of $13 yearly.

Author Bio
Nellius Mukuhi
Nellius Mukuhi
Nellius is a cryptocurrency investor and journalist who has been in the nascent space since 2018. She is a seasoned writer who loves to travel and focuses on delivering relevant, valuable content for audiences.