The low‐power wide‐area network (LPWAN) technologies, such as LoRa, Sigfox, and NB‐IoT, bring new renovation to the wireless communication between end devices in the Internet of things (IoT), which can provide larger coverage and support a large number of IoT devices to connect to the Internet with few gateways. Based on these technologies, we can directly deploy IoT devices on the candidate locations to cover targets or the detection area without considering multihop data transmission to the base station like the traditional wireless sensor networks. In this paper, we investigate the problems of the minimum energy consumption of IoT devices for target coverage through placement and scheduling (MTPS) and minimum energy consumption of IoT devices for area coverage through placement and scheduling (MAPS). In the problems, we consider both the placement and scheduling of IoT devices to monitor all targets (or the whole detection area) such that all targets (or the whole area) are (or is) continuously observed for a certain period of time. The objectives of the problems are to minimize the total energy consumption of the IoT devices. We first, respectively, propose the mathematical models for the MTPS and MAPS problems and prove that they are NP‐hard. Then, we study two subproblems of the MTPS problem, minimum location coverage (MLC), and minimum energy consumption scheduling deployment (MESD) and propose an approximation algorithm for each of them. Based on these two subproblems, we propose an approximation algorithm for the MTPS problem. After that, we investigate the minimum location area coverage (MLAC) problem and propose an algorithm for it. Based on the MLAC and MESD problems, we propose an approximation algorithm to solve the MAPS problem. Finally, extensive simulation results are given to further verify the performance of the proposed algorithms.