The home of the future is here and more accessible than ever

Technology is changing where we live, making our homes safer, more efficient, and more convenient. Below we look at ways you can retrofit your house for the future and how to pay for it using innovative financing solutions.

From smart thermostats and lighting to connected appliances and better home surveillance, technology is transforming the places we live. In the process, our homes are not only becoming safer, more efficient, and more convenient, but also more environmentally friendly and less dependent on the grid. If you want to enjoy these and other benefits, it may be time to retrofit your house so that it’s ready for the future.

Skip trips to the pump with electric vehicle charging

Electric cars are quickly going from novel to commonplace, with all of the major car manufacturers racing to bring new electric vehicles to market. And it’s not just because electric cars are in fashion. Governments around the world have implemented strict regulations to push the auto industry in this direction. In Canada, for example, all new cars will be required to be zero emissions by 2035.

What this means is that we’ll all be driving electric vehicles sooner or later. The question is, when you do, will you want to have to go to a charging station every time you need to fill up the tank? No, you’ll want your car to charge in your own garage, preferably while you’re sleeping at night. And for that, you’ll need to install a home charging station like Wall Connector. In our view, this is one of the first additions you can make to add value and functionality to your home as you outfit it for the future.

Solar panels save the environment and your wallet

Of course, you’re going to need to power that charging station. Here, solar panels offer a solution. Using them is not only environmentally friendly since it allows you to reduce your greenhouse gas emissions by delivering clean, renewable energy, they can also save you a lot of money. That’s because although there’s an upfront cost associated with purchasing and installing them, the clean power they generate will lead to long-term savings on your energy bills.

In Ontario, for example, the payback period for solar panels is estimated to be between 8 and 10 years for the average home. Ontario and other provinces also have a net metering system, meaning you can receive a credit toward future energy bills if your solar panels generate more power than you need and can therefore be returned to the grid.

Importantly, solar panels can also increase the resale value of your property. Some estimates have shown that home values go up by up to $6,000 for every 1kW of solar installed. And with more efficient and stylish models being introduced to the market, including Tesla’s solar roof, more people are choosing to integrate solar power into their home.

Battery energy storage systems deliver reliable power

Finally, you’re going to want to be able to store any excess power you’re generating so that you have it when you need it. Battery energy storage systems are the home of the future’s answer to the back-up generator, keeping your heat on and your freezer cold when the grid goes out. Fuel-free, these energy storage systems are environmentally friendly, quiet, and efficient. When used in combination with solar panels, they’re also a way to ensure that your house is always able to run on green energy, even when the sun isn’t shining.

Models like Tesla’s powerwall make your home run more efficiently while storing excess energy coming in from your solar panels or the grid that’s not being used. But Tesla isn’t the only game in town. Other innovative players in the market include Sonnen, Eguana, and LG Chem.

Bringing your house into the 21st century

The home of the future is here today, and it’s more accessible than ever. Above we’ve covered  just a few of the cost-effective technologies that are making homes more efficient, environmentally friendly, and comfortable.

Still not convinced? You might be interested to know that The Canada Greener Homes Grant provides homeowners with up to $5,000 to help them make upgrades to their homes that drive energy efficiency. Plus, you can avoid big upfront out-of-pocket expenses altogether. When you partner with a home improvement financing leader like Abode Financial, we help you break down the cost of installing charging stations, solar panels, and battery storage systems into affordable monthly payments.

Interested in learning more? Get in touch.