Not only we have smarter kids now, but our phones, cars, TVs, watches, and now even our homes are getting smarter due to modern tech. In fact, everything around us that depends on technology is getting smarter and smarter and homes are no different.

The concept of smart homes is very attractive for people. A home that can make smart decisions on its own, do stuff on its own that we had to do, and save us money, is something that we always wanted.

One of the most common concerns is if investment on smart home tech saves money for us and pays for itself in few years or not. The answer is – if you are investing in right tech and devices that can actually make a difference – then you can really save a lot of money.

Not only your smart tech choices help you save money, but it also helps you increase the value of your home. Here are some top smart home tech trends that can make your home cost effective.

  • Smart Thermostats

One of the most cost saving applications is the smart thermostat that can save up to 20% of our energy bills. In the US, the 25% of the total residential energy consumption was space heating and cooling. With smart wifi enabled thermostats, you can not only operate your device using smart devices but can also reduce your energy consumption.

Some of the smart thermostats like Nest Learning thermostat are based on AI that can learn your lifestyle and daily habits and adjust the temperature accordingly. Some other 3rd and 4th generation smart thermostats come with motion sensors and geofencing tracking that can detect if someone is present in the house or if it is empty.

You can also track the energy consumption and read reports generated by apps for these thermostats that tell you how much you save on energy bills.

  • Smart Lights

Lights are our second top source for consuming residential energy (9% in the US). Smart lights also come with sensors that can detect your presence in the room so they turn on when someone enters the room and turn off when someone leaves the room. You can also install and use daylight sensors that can brighten or dim the lights based on daylight.

A cheaper version comes with a remote that can control the brightness of your light without investing on sensors. But installing sensors means you will never leave a light on again ever that can reduce your energy bill.

  • Solar Panels

Even though smart lights and smart thermostats can reduce your energy bills by half, but you can further reduce your energy bill payments by installing solar panels. The more advanced concept of smart homes is a home that is self-sufficient in producing energy for its own needs. Even though installing solar panels still costs a lot but it is a smart investment in the long run.

Saving money on utility bills is one thing, but if your home is installed with smart lights, smart thermostat, and permanent solar panels for long term energy needs, it can significantly increase the value of your home. Smart home tech is a rising demand as the global market is expected to worth more than 137 billion dollars by 2023.

This means increasing number of buyers are looking for smart homes, so do you have a smart home?