Ranking of Energy Saving Devices for Smart Homes according to their Payback Time

Astrid Felderer, Roman Brandtweiner, Andrea Hoeltl

Publication: Chapter in book/Conference proceedingContribution to conference proceedings

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Abstract

This paper discusses the average energy savings of various smart devices in connection with their average price. By calculating the devices’ payback times, a ranking of the tools can be given. The whole study focuses on the average household within the EU-28 in terms of climate as well as in terms of user behaviour. The purpose of the research was to provide a win-win situation for users’ wallets and the environment by showing the device which suits both players best. As a result of the research, it was found that the greatest reduction in energy consumption can be reached by an interaction of the smart device and the inhabitants of a smart home. By giving users feedback on their energy consumption through smart meters, average savings of 7.5% are reached. As a smart meter is available for about € 80, it has a payback time of only 4.24 months.
Keywords: Smart home devices, payback time, energy consumption, energy saving, smart homes
Original languageEnglish
Title of host publicationWIT Transactions on Ecology and the Environment, Vol. 217
Editors G. Passerini, N. Marchetini,
Place of PublicationSouthampton, Boston
PublisherWITPress
Pages389 - 399
Publication statusPublished - 2018

Austrian Classification of Fields of Science and Technology (ÖFOS)

  • 502052 Business administration
  • 508 not use (legacy)
  • 508007 Communication science
  • 508009 Media research
  • 502048 Business ethics

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