The world has experienced growth in demand and consumption of electrical energy in the past decade. Concurrently, different companies are working towards building smart houses by replacing traditional devices with electrical devices. Most of these electrical appliances consume a large amount of electricity in return for their service. Thus, various organizations have been taking extensive measures to increase electricity production. Although green energy power plants are replacing non-renewable resources, none of the alternatives are fully environment friendly. While the advancement in eco-friendly technology continues, the world must conserve its electrical energy. This paper describes a system which implements IoT along with deep learning, to monitor electronic devices in smart homes and can regulate electricity consumption. The system will continually monitor all electronic devices connected to it. It automatically switches off the unused electronic devices to save electricity. As a result, the system will also reduce the risk of casualties associated with short-circuiting. Furthermore, it will also assist its users in cutting down their electric bills.