Smart Energy Management (SEM) is a new emerging technology that will be mandatory for the future electrical network to generate, transmit, distribute, manage and monitor electrical energy and its usage. The major contribution will be from the communication technologies specifically wireless technologies enabling two-way communications. So far, the interface of smart devices is limited to the transmission and distribution side of the power grid, while its interface with the consumer as well as consumer energy consumption is not given major significance [1]. Based on the case study conducted in our university, this paper proposes a Smart Energy Management System (SEMs), that will make use of Internet Of Things (IoT) along with more than one type of wireless communication techniques based on the requirement, to collect energy information from the users and communicate it to the central server. An intelligent sensor node is deployed in the building in order to use the energy, based on the environmental conditions (temperature, humidity, etc). We have proposed decision algorithms which make use of the sensor values for optimization of energy consumption.