How Can IoT Save You Money?

What exactly is IoT?

IoT, or internet of things, refers to a system of interconnected computing devices, digital and mechanical equipment, animals, people, or objects with UIDs (unique identifiers) and the ability to share data over a fast network without requiring human-to-computer or human-to-human interaction. As such, a thing on the IoT network can be anything: a farm animal implanted with a biochip, an automobile with sensors, a human implanted with a heart monitor, etc.

How do they work?

The IoT ecosystem is made up of internet-enabled smart devices with embedded systems (sensors, processors, communication hardware) capable of collecting data and sharing it with other interconnected devices.

How can IoT save you money?

Sprinkler controllers – cut on water bills

Sprinklers

Sprinkler controllers are the embodiment of smart irrigation – plants are only irrigated with the right amount of water and only when they need it. This can cut water wastage by a huge margin. Because water is not a cheap farming resource, cutting its wastage means you are saving a lot of money.

Automatic dimming bulbs – cut you energy consumptions

Phillips has excelled in this line of bulbs with their Hue family of light bulbs although they are not the only of their kind in the market. These bulbs can be controlled from a smartphone or tablet app which lets you program them to only turn on or off at the specific time and as well as set how they light up or turn off. Typically, an automated dimming bulb will gradually dim as you doze on the bed and eventually go off when you sleep fully. They can be as complicated as they could.

Because these bulbs automatically light up when you really need them, they help you avoid bloated energy bills.

Smart thermostats and intelligent heating – cut on energy consumption

IOT Thermostat

Smart thermostats are very much like programmable thermostats except that they don’t follow instructions. Rather, they can tell when your house needs heating and when it doesn’t all on their own. However, the user is allowed to make some specific settings based on a personal schedule.

One smart thermostat is enough to control all air conditioning and heating devices in a building. This helps prevent these devices from running idle when you don’t need them. In the long run, you will realize that you have saved a lot of money on electricity bills.

Doorbell camera – keep thieves at bay

Have you ever ordered something on Amazon only to learn that it was snatched as soon as the delivery guy left it on your porch? This is where the doorbell camera comes in. An average suburban household in America spends an average of $200 every month on online shopping. At the same time, over 20 million people across the country have reported their items stolen from their doorsteps. These handy cameras can save you a lot of money if porch pirates (thieves who snatch your stuff from your doorstep) are used to raiding your home.

Doorbell cameras will send a notification to your phone or ring an alarm when a stranger approaches your front porch.

Universal Remote – cut on energy consumption

Universal Remote

Instead of spending extra cash buying several remote controls for several devices or buying many batteries for a horde of remote controls, you can control pretty any device in your home using a universal remote. One such universal remote is Logitech Harmony which costs about $50 but can help you save you a big deal of money in the long run.

Greenhouse weather controllers – cut on farming costs

Greenhouse farming helps the farmer to plant several crops in a year by imitating the weather conditions the specific crop would have required if it grew in the natural environment. This is especially plausible in the era of global warming in which the rate of crop failure is increasing.

Greenhouse weather controllers are used to regulate the “weather” conditions in greenhouses by regulating the amount of heat, light, and water received by plants based on their specific needs. These controllers can also prove useful in data analytics which only makes farming to be cheaper.
Greenhouse

Final Words

IoT is applied anywhere efficiency is required. Sprinkler controls help cut water wastage in farms. Dimming bulbs and smart thermostats help households and commercial buildings avoid bloated energy bills. Doorbell cameras can save you a lot of money by keeping thieves at bay. Greenhouse weather controllers allow you to cut farming costs by cutting crop failure and increasing the number of crops you can grow in a year.

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