Smart home systems have already become one of the most important applications of Internet of Things. Previously, the investment cost of smart home systems was quite expensive which required a lot of installation issues. However, wireless solutions offered by IoT applications has decreased the investment costs and brought easy, do it yourself solutions. In parallel to this, smart LED light sources and lighting control infrastructure have also been developed. In this study, it's aimed to investigate the latest technological developments in Internet of Things, smart LED lamps and control systems and application areas in residential lighting with regard to new communication protocols and standards. It is also aimed to investigate energy saving opportunities by smart LED lamps in comparison to incandescent lamps, CFLs and LEDs.