Smart Home Energy Monitor: Does It Really Save Money?

Summary

Discover if the popular Emporia V3 home energy monitor, costing $200, can actually slash your electricity bills. The reviewer compared it to cheaper alternatives: a $10 Kill A Watt meter and a $15 smart plug. The Kill A Watt revealed phantom power drain from electronics like TVs, costing a fraction of a cent per day for a TV. The smart plug, while offering remote control and scheduling for appliances like a fridge, also only monitors individual plugged-in devices. The Emporia V3, installed in the electrical panel, provides a comprehensive view of your entire home's energy usage, tracking individual circuits and appliances like HVAC and water heaters. After 24 hours, the V3 highlighted the significant energy consumption of the water heater and AC, along with phantom power from the heat circuit. Over a month, the V3 data showed the user's home usage was lower than average, but the AC and water heater remained the top energy consumers, raising concerns for the upcoming summer. The V3 can also estimate payback periods for energy efficiency upgrades. Ultimately, the reviewer suggests starting with simpler, cheaper solutions like blackout curtains and a smart thermostat before investing in a full home energy monitor like the V3, noting that even with savings, rising energy prices can make it a challenge to significantly reduce bills. Simple actions like using cooler water for laundry and dishes, and opting for normal wash cycles on the dishwasher, are recommended alongside blackout curtains for other windows to target the biggest energy users.