The Internet of Things and Your Utility Bills: How Technology Is Changing the Way We Live

New technology is making the world of utilities more efficient than ever before. As IoT-enabled devices become cheaper and simpler to integrate into our homes and businesses, we’re seeing a surge in connected devices that monitor everything from our solar panels to our water heaters. And because most utility services are billed weekly or monthly, this also means there will be even more opportunities for new technology solutions that can help us cut our costs even further. Whether you pay your bills online or receive them by Email, here’s how the Internet of Things is changing the way we live with utilities:

Better Monitoring with Smart Devices

As we discussed in previous blog posts about the advantages of IoT, everything from light bulbs to kitchen appliances can now be connected to your home’s WiFi signal. This provides a range of benefits, such as allowing you to adjust the temperature on your thermostat remotely. But these devices can also function as sensors, measuring things like CO2 levels, humidity, noise pollution and temperature in your home. This means they can be extremely useful for utilities, as they can provide additional data on the way we use electricity and gas. In the case of smart thermostats, for example, they can be set up to adjust temperatures based on the time of day, meaning you use the least amount of energy possible. This can save you money and help utilities better plan how much electricity is being used at any given time, which will eventually help lower rates for customers.

Smart Thermostats: Helping You Save Energy and Money

Thermostats are one of the oldest and simplest IoT devices, but they’ve never been smart. Newer models can detect when people leave their homes, automatically adjusting the temperature and enabling you to set custom schedules based on the seasons. With advanced machine learning algorithms, they can even learn your routine, helping you save more money over time. These thermostat devices can be controlled through a smartphone app and might even come with a subscription service that offers energy savings and other benefits. When it comes to utilities, thermostats can provide valuable information on how energy is being used across the country. This can lead to more cost-effective plans for customers and more cost-efficient operations for utilities.

Internet-enabled Security Systems

As IoT devices grow more common, we’re seeing a range of security systems that can be controlled remotely. These are particularly helpful for homeowners who rent their homes, as they enable you to check on your property from anywhere in the world. There are also security systems that can monitor your home’s energy usage, providing insights on how much power individual appliances are using. This can be helpful for parents who want to keep an eye on how long their kids are playing video games, for example, or landlords who want to keep an eye on how much energy is being used by their tenants. These IoT security systems can also monitor water flow, which can help protect your home from floods and other disasters. They can detect water pressure levels, water temperatures and water flow rates, so you know immediately if there’s a problem.

Smarter Homes, Apartments and Buildings With IoT

As the Internet of Things expands to cover the entire home, it’s not just people who can benefit from smart devices. Buildings and apartments that are connected to IoT devices can save energy and money, as well. Building automation systems can monitor CO2 levels, humidity and temperature, while water automation devices can detect flood levels and water flow levels. These systems can be controlled through an app, helping property managers make sure everything is in good shape. Utilities have a lot to gain from smart buildings and apartments. Building automation systems can help utilities better predict how much energy will be used in certain areas, while water automation devices can detect leaks and other problems more quickly.

Robots That Monitor Gas Pipelines

As we’ve said, IoT devices come in all shapes and sizes. Sometimes, they’re even disguised as animals. For example, researchers have created a hedgehog-like robot that crawls through pipelines to detect leaks and other problems before they become serious. This device — called the Pipeline Sentinels, utilities providers can better monitor their pipes for potential problems, while also making sure their crews are properly trained to deal with leaks. This technology is still in its early stages, but it’s expected to be fully developed within the next few years.

Big Data, Always-On Analytics and The Internet of Things

Connected devices provide utilities providers with valuable data, helping them better predict how much energy is being used and where. This data is often collected in a platform known as a data hub, which is like a central database. The data hub is where utility experts analyze and interpret data before sharing it with customers, regulators and other stakeholders. Before IOT, data hubs weren’t able to interpret this information, it was stored in silos. This means that data from your thermostat wasn’t connected to data from your water heater or refrigerator. Now, however, most data hubs have a system that’s always-on and always collecting data. This gives experts a full view of how a given area or neighborhood is using energy, knowing how long people let their showers run, how long the lights are being left on and more.

Bottom line

The Internet of Things is changing the way we live in many ways, from how we communicate with one another to how we control our homes and appliances. With connected devices, we have the opportunity to save energy and money while also helping utilities better plan their operations. This can be done by setting up your devices with the right settings so they use less energy.