Is LED Lighting Right for Your Company?
In 2007, the federal government enacted the Energy Independence and Security Act, which is aimed at implementing a gradual phase-out of incandescent bulbs – because of their energy inefficiency. Incandescent bulbs lose about 90% of the energy they use as heat. And while the law does not ban incandescent bulbs altogether, it does effectively ban the manufacturing and importing of the majority of incandescent bulbs – in hopes of decreasing energy usage as well as lowering harmful emissions.
Currently LED lighting is the most efficient lighting technology on the market. LED lamps can last more than 20 years, as well as reduce energy costs by 75%.
Lighting accounts for about 21 percent of all the electricity consumed by businesses. When you “do the math” it becomes clear that switching to LED lighting can reduce a company’s total electric bills by 15%. And that is a substantial savings, year after year.
LED Lighting: More Durable, Less Expensive to Maintain
In addition to its longevity, LED lighting is also more durable and less expensive to maintain than the fluorescent or high intensity discharge (HID) lighting currently in use by many businesses.
Department of Energy forecasts that LED will account for 80% of the entire lighting market by 2020. And according to recent post research released in the Edison Report, global revenue for the LED lighting market should reach $216 billion by the year 2024.
The benefits – and cost savings – of switching to LED lighting are well documented. But what does this mean for businesses that already have a substantial investment in buying and installing incandescent, fluorescent or halogen fixtures? Well, the good news is that businesses do not need to replace their older fixtures in order to upgrade their lighting to LED – thanks to a variety of affordable upgrading solutions – including “retro-fit” kits designed to fit almost any existing fixture.
This growth coincides with a dramatic increase in commercial retrofit projects while LED prices continue to decrease. Nearly all designers and project managers have begun to consider LED lighting for installations across a wide variety of applications, and Navigant Research expects this fast-paced transition to LED to knock incandescent and halogen bulbs out of the market by 2024.
LED Lighting Produces Less Heat & Uses Less Energy
It is important, however – when considering either installing new LED fixtures or retro-fitting existing fixtures – to understand the disparity between low quality and high quality LEDs. Higher quality LEDs produce less heat, use less energy and last for decades. In fact certain of the highest quality LED lamps have extended lives of up to 219,000 hours (12 hours a day for 50 years!)
Investing in quality LED lighting solutions will save any business money by reducing energy costs – in most cases reducing electric bills by at least 15%.