Home energy management features are changing how we save money

In early December 2024, Homey, the LG-owned smart home platform, introduced significant enhancements to its energy management capabilities in Europe. The company unveiled new features in its app, allowing users to monitor and control energy consumption from various compatible devices such as plugs, appliances, thermostats, and EV chargers. The introduction of the Homey Energy Dongle marks a pivotal moment, enabling direct connections to smart meters. This dongle will help users accurately track their home’s energy consumption, fostering a deeper understanding of their energy usage patterns. The energy management tab is being made available in a public beta version for all Homey Pro and Homey Cloud customers. Preorders for the Homey Energy Dongle are open at a competitive price of €39, specifically for users located in countries including the Netherlands, Belgium, Luxembourg, Denmark, Sweden, Finland, Lithuania, Austria, Switzerland, and Hungary. The company anticipates that the dongle will start shipping by March 2025, allowing early adopters to utilize its capabilities soon. Homey's energy management functionalities are designed to work seamlessly with all devices connected to a Homey setup, irrespective of whether they utilize proprietary local/cloud APIs, Zigbee, Z-Wave, or Matter connections. The platform provides users with diverse utilities, such as tracking solar energy generation, monitoring electric vehicle (EV) charging, and differentiating energy consumption from the grid. By entering their energy prices within the app, users can receive cost estimates related to their energy consumption and are informed about plans to support dynamic pricing by the following year. The acquisition of Homey by LG is indicative of the growing importance and interest in smart home technology, particularly in the realm of energy management. LG's intent to integrate Homey’s connectivity and software into its ThinQ platform underlines strategic efforts to enhance energy efficiency through technology integration. As energy management becomes a more pronounced focal point in smart home discussions, Homey’s recent enhancements position it as a competitive player in the market. This development reflects broader trends in the industry where consumers are increasingly seeking smart home solutions to optimize energy usage effectively and reduce costs.