Recent research conducted by Pike Research, into the LED industry, shows that they will displace more than 52% of the global lighting market for commercial buildings by 2021. It is expected that the declining prices for LEDs will increase adoption in the technology around the world.
Any business which requires a lot of lighting, whether it’s an office or a warehouse or manufacturers should be aware that by changing to a more efficient form of lighting, less energy is consumed which will reduce your bill, saving your business money.
In fact the US department of Energy calculates that LED’s use only 20 – 25% of the energy compared to their incandescent counterparts. The actual LED bulbs are more expensive than traditional incandescent bulbs, but they last 25 times longer. The means 25 incandescent bulbs would have to be replaced in the lifespan of one LED bulb.
Overall this would cost you twice as much as the initial cost of one LED bulb. Furthermore with an LED bulb lasting 25 times longer, it virtually eliminates the maintenance cost and time required to replace incandescent bulbs.
In addition to saving large sums of money, switching to LED lights also promotes positive business ethos which extends beyond business and into politics. Governments around the world have seen the strong case for LED technology and are keen to integrate into nation infrastructures. As a result there is increasing legislation and business incentives to encourage LED adoption.
The incandescent light bulb has a rapidly approaching shelf life. New buildings are having them installed and many older buildings are having LEDs retro-fitted. The demand for energy efficiency and greener renewable energies is driving LED technology into the workplace and the home, with the likes of Istoria LED ready to serve the market.
A great example is the city of Las Vegas which has deployed nearly 6,600 LED roadway fixtures to replace mercury vapor and high-pressure sodium (HPS) lights on arterial streets and residential thoroughfares throughout Las Vegas. The new lights are expected to save approximately 2.2 million annually.
Beginning this spring, Las Vegas is launching the second phase of its street lighting update, installing 35,000 additional LED roadway fixtures over the next 12 months. This phase is expected to save more than $1.5 million a year by reducing electricity use by more than 18 million kWhs.