Rapid Growth of Energy Saving LED Lights

As the legislation ban of Incandescent bulbs in the US and Europe, a large-scale adoption of energy efficient LED lights are forecasted in the next five years, it is expected to generate more than 4 billio units by 2016 in the lighting market. Consumers are now realizing the long-term savings associated with LED light bulbs over competitive options such as halogen and compact fluorescent bulbs.

Lighting accounts for approximately 19 percent of the world's energy use at present, according to most studies. IMS Research forecasts that in 2016 about 15 percent of all lighting on the market will be based on LED lighting technology, which would reduce global energy consumption of lighting by at least 20 percent.



Energy-saving LED light bulbs use a significantly smaller amount of the power of incandescent lamps for the same light output. The IMS report has also stated that the use of LED lights in place of incandescent lamps will result in energy savings of more than 300 GW-hr by 2016. Altogether, the five-year cumulative total will be more than 800 GW-hr, which would be equivalent to $100 billion in energy savings. Interestingly enough, this annual energy savings would eliminate the need for 50 nuclear power stations at full capacity over that period.

At the consumer level, the benefits of using LED lamps to the general consumer are obvious in the massive reductions in average household energy bills. Currently, it costs the typical US household $20 to purchase and run an incandescent lamp for four hours a day over a year compared to $16 for an LED lamp, which would be a savings of 20 percent. What's more, an LED lamp has an average life expectancy of over 30,000 hours, which is roughly 30 times longer than an incandescent lamp, making LEDs the cheapest solution over the long-term.