The Declining Cost of LED Lighting

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The quality of LED lighting led to its acceptance as a substitute for traditional lighting solutions like incandescent bulbs and fluorescent lighting. However, the cost has always been seen as a hurdle in overall acceptance of LEDs. The light that came from LED’s, it was initially thought, was too bright and harsh to make changing worth the money and effort. But LED technology has met, and to some people surpassed, the quality and function of traditional lighting sources.

This leaves the other major complaint against LED lighting, which is the initial cost of LED bulbs. A single LED bulb can undoubtedly be expensive compared to other options, especially if you opt for the internet-connected, “smart” color shifting model at $60 apiece. But recent studies  (https://www.researchandmarkets.com/research/8mrctd/global_general?w=4)  have shown that the cost to manufacture LED light bulbs has decreased, which has led to significantly lower prices. This market change has driven increased growth in the adoption of LED lighting.

More and more consumers are learning to look past the price tag in the store to see the savings LED lights will bring them. For instance, let’s say a 60-watt equivalent LED light bulb requires a financial investment of $5.99 in the store while the same incandescent bulb may be .99 cents. The LED bulb will cost you $1.04 for a year of service. That incandescent bulb will cost $7.12 for the year, if it lasts that long. This is a huge difference and shows the efficiency of LED lighting over time.

This trend of declining prices is not just for private consumer use. It is becoming cheaper and easier for businesses and building owners to buy LED lighting in bulk and retrofit their parking lots and facilities to high-efficiency LED lamps over traditional incandescent lighting.

Once the change is made, consumers see improved light quality indoors with the soft white light they are accustomed to from traditional bulbs or the bright security of outdoor lighting. LED bulbs can even come in a wide variety of different colors. The light itself provides the change in color temperature, not the glass bulb.

If your business hasn’t made a wholesale change to LED lighting, now is the time to consider the option. There is a wide selection of LED lighting options available to you. If your business is ready to invest in a more efficient future, call Lighting Solutions today.  We can assess the energy consumption of your offices or facility and estimate not only how much a change in LED lighting would cost initially, but how much your business would save 5 – 10 years down the road.