Smart home gadgets include gadgets connected to the home network, such as thermostats and smart meters. By connecting with the electric grid, smart meters act upon real-time pricing to change home energy usage patterns, such as adjusting the air conditioner during times of high prices. By knowing and managing when electricity is being consumed, grid operators can maintain stability and lower energy usage during peak periods.
There is some data to back up the notion that smart-grid technology makes buildings more energy-efficient when used effectively. A US Department of Energy study showed smart-grid consumers were able to save up to 10% on energy bills.
Read more: http://phys.org/news/2015-01-consumers-favor-home-efficiency-smart.html#jCp