Saving money can seem impossible at times – with high energy bills, fluctuating fuel prices and the unexpected costs life throws at us. There is, however, one thing that can help – smart technology!
You might think new technology isn’t for you, or that these expensive devices are a waste of money – but you might be surprised to know that implementing smart devices and technology around your home can help you save hundreds of pounds a year on energy bills.
There are a range of options available to help you maximise savings and it’s not just about gadgets – energy-efficient appliances and renewable energy solutions can also make a huge difference to help you save both energy and money in the long run.
In this article, we explore some of these technologies and discover how they can help you reduce your energy costs, save those all-important pennies and make your home more eco-friendly.
Benefits of Using Smart Technology for Energy Savings
One of the main advantages of using smart technology in your home is increased control and automation. Smart thermostats, for example, can learn your habits and adjust the temperature accordingly, ensuring that energy is not wasted when you’re not at home or during periods of low activity.
Another benefit of smart technology is the ability to monitor and optimise energy usage. With real-time data on your energy consumption, you can identify energy-intensive activities and make changes to reduce their impact.
Furthermore, smart technology allows for remote control and management. With the use of mobile apps, you can monitor and adjust your energy usage even when you’re away from home.
Types of Smart Devices for Energy Management
There are various types of smart devices available for energy management, each serving a specific purpose in reducing energy bills. Let’s explore some of the most popular options.
Smart Thermostats
Smart thermostats are intelligent devices that learn your heating and cooling preferences and adjust the temperature settings accordingly. By optimising heating and cooling schedules based on your daily routines and occupancy patterns, smart thermostats can help minimise energy waste and reduce utility bills.
Costs:
Smart thermostats typically range from £80 to £250, with professional installation often offered by manufacturers for an additional cost. Many models however can be DIY installed.
Possible Savings:
Installing a smart thermostat can save you up to £75 per year on heating bills by reducing energy waste and improving efficiency.
Energy Monitoring Devices
Energy monitoring devices provide real-time insights into your home’s energy usage. They typically consist of sensors and smart metres that track electricity use allowing you to identify energy-intensive appliances and behaviours.
Costs:
Basic energy monitors typically cost between £20 to £50, with more advanced energy monitors ranging from £50 to £150 or more.
Possible Savings:
Monitoring devices can save you hundreds of pounds per year on utility bills, however, the exact savings depend on individual circumstances and the extent of energy-saving measures implemented.
Solar Panel Systems and Renewable Energy
Solar panels convert sunlight into electricity, which can be used to power your home. They can be installed on rooftops or in open spaces with ample sunlight exposure, providing a clean and renewable source of electricity.
By investing in solar energy, you can reduce your dependence on grid electricity, lowering your utility bills, and contributing to environmental conservation efforts.
Costs:
The cost of installing a typical 4kW solar system can range from £5,000 to £13,000, however, prices will vary depending on the type of panels, installation complexity, and location.
You may also be able to access government incentives, grants, or financing options to help offset the upfront cost of solar panel installation.
Possible Savings:
Solar panels can save you significant money on energy bills over time. According to the Energy Saving Trust, a typical 4kW solar system could result in savings of around £175 to £420 per year on electricity bills.
Additionally, you may be eligible to receive payments for excess electricity generated through the government’s Smart Export Guarantee (SEG) scheme, further increasing potential savings.
LED and Smart Lighting
LED (Light Emitting Diode) lighting is a highly efficient technology that consumes significantly less energy than traditional bulbs. Smart lighting (or smart bulbs) are designed to be controllable, programmable, and energy-efficient.
Users can control their lighting remotely using smartphone apps or voice commands, and features such as scheduling, motion sensing, and dimming, help optimise energy use.
Costs:
Smart lighting systems can range from £40 to £150 for a basic set-up. More advanced systems, with additional features (like motion sensors or compatibility with voice assistants), can cost upwards of £150 to £400 or more.
Standard LED light bulbs can range from £1.50 to £20 per bulb depending on the type and quality you choose.
Possible Savings:
Studies have shown that smart lighting can reduce energy consumption for lighting by up to 50% or more compared to traditional lighting systems. LED bulbs have a longer lifespan than traditional bulbs, reducing the frequency of replacements and maintenance costs over time.
Depending on the type of bulbs you replace, switching to LED bulbs could save you between £4 – £14 per bulb, per year.
Energy-Efficient Appliances
Energy-efficient appliances, such as refrigerators, washing machines, and dishwashers, are designed to use less energy while providing the same level of functionality as standard appliances.
These appliances often feature advanced technologies, such as apps and wifi controls, variable speeds, and energy-saving modes, which help reduce energy consumption and lower utility bills.
Costs:
Costs will vary greatly depending on the appliance you wish to replace.
Possible Savings:
Replacing old appliances with energy-efficient models can save you up to £75 per year on electricity bills for each appliance upgraded. Additionally, energy-efficient appliances typically have a longer lifespan and require less maintenance, further contributing to long-term savings.
Investing in smart technologies and energy-saving measures is not only worthwhile but essential for homeowners looking to lower their energy bills, save money and reduce their environmental impact.
The technologies highlighted in this article all offer benefits that extend far beyond immediate cost savings. For example, smart thermostats can optimise heating and cooling systems, resulting in significant reductions in energy waste and utility bills. Similarly, solar panels generate clean, renewable energy, reducing the need for grid electricity and unlocking substantial long-term savings.
By incorporating smart technologies and energy-saving measures into your home, you can enjoy greater comfort and control, with lower energy bills and the peace of mind that comes with additional savings.
