Energy efficiency, smart homes and the Internet of Things (IoT)
Smart buildings and their automation have become increasingly popular buzzwords in the construction industry. People are looking for the latest cool gadgets with which to "smartly activate" their homes. Home builders and real estate developers are starting to seriously consider adding smart home and smart building features to their new residential and commercial developments. Giants Amazon, Google and even Apple are investing multi-billions of dollars in the industry to make our homes smart. Aside from the WOW factor, what are the benefits and practical applications of technologies in making smart homes? The Internet of Things (IoT) brought to the household level needs to be economically viable. This means that this expenditure must contribute to the overall household economy. In other words IoT technology must become a profit center and not a cost center for our budget. For example, when the fluorescent …