Smart Water Solutions Can Help Curb $9.1B Annual Water Damage Costs by 93%
LAS VEGAS–(BUSINESS WIRE)–Today at the Consumer Electronics Show (CES), Alarm.com (Nasdaq: ALRM) introduced the Smart Water Valve+Meter to help people avoid billions of dollars in annual property damage loss from water leaks and use water more efficiently. The device is an innovative addition to the Alarm.com Water Management solution, identifying low and high-volume water leaks and constantly monitoring overall water use and current usage rates in homes and businesses. Deep integration with the Alarm.com platform leverages intelligence and insights to help reduce the risk of losses from water emergencies, while also improving water conservation efforts.
Research indicates that adding a smart water solution to security and automation systems can help prevent most of the annual property loss costs from water damage. Despite the constant risk of water leaks, only 6% of homes currently have a smart leak detection system, according to an estimate from Parks Associates. Including the full Water Management solution with an Alarm.com system helps property owners avoid damage from major leaks as well as health and safety issues from prolonged low-volume leaks. Home and business owners may also qualify for insurance discounts.
“People want to feel confident that their entire home or business is protected at all times, not just individual aspects of it,” said Jeff Bedell, chief strategy and innovation officer for Alarm.com. “The smart home market is largely composed of standalone devices or single-purpose apps that make device integration difficult. Our intelligent, proactive platform encompasses the critical elements of whole home protection – security and awareness, video monitoring, access, energy and automation, and water management. We’re committed to helping our partners scale their business and expand their network so they can provide customers with comprehensive and fully integrated smart property solutions that are unrivaled in the market.”
Designed and developed by Building36, a subsidiary of Alarm.com, the Smart Water Valve+Meter combines cutting-edge technology with high-quality plumbing hardware to help safeguard properties from costly leak repairs and steep water bills. Using data from the device and a suite of water sensors and monitors, the Alarm.com Water Management solution detects both large leaks and small drips early, and intelligently responds to each issue. For example:
- While the property owner is away, the system detects a large leak from a burst pipe and automatically shuts off water to the home to prevent flooding.
- While the property owner is home, the system detects a small leak from a laundry room and sends a notification but keeps the water on to avoid an untimely interruption.
- The system uses temperature sensors on the Smart Water Valve+Meter along with HVAC and thermostat information to alert the property owner if there is an emerging risk of frozen pipes.
- While the property owner is away, the system detects a bathroom toilet continually running and closes the water valve to prevent excessive water usage.
In addition to preventing water damage, the Alarm.com Water Management solution constantly monitors and reports water consumption to help home and business owners reduce waste and costs. With the average family spending more than $1,000 annually on water use and with strained water supplies in a growing number of regions, staying on top of water usage is a significant concern for responsible home and business owners.
As part of the Alarm.com Water Management solution, the Smart Water Valve+Meter fully integrates with the entire Alarm.com ecosystem so users can manage everything remotely through a single point, the Alarm.com mobile app. The Smart Water Valve+Meter will be available from Alarm.com and Building36 service providers in the second quarter of 2020.
Alarm.com is the leading platform for the intelligently connected property. Millions of consumers and businesses depend on Alarm.com’s technology to manage and control their property from anywhere. Our platform integrates with a growing variety of Internet of Things (IoT) devices through our apps and interfaces. Our security, video, access control, intelligent automation, energy management, and wellness solutions are available through our network of thousands of professional service providers in North America and around the globe. Alarm.com’s common stock is traded on Nasdaq under the ticker symbol ALRM. For more information, please visit www.alarm.com.
Alarm.com Public Relations