LED lights have come a long way over the last few years, with superior technology that allows them to last up to 100 times longer than incandescent lights, and they can be used in a much wider variety of settings and conditions than incandescent. LEDs use only about 20 percent of the energy that incandescent bulbs use and are gaining market share with governments and commercial and residential users.
Price has been the main barrier to widespread market penetration by LEDs. At $25 for an LED bulb that works in a standard light socket, they cost more than many people are willing to spend, even though they are expected to last 25 years.
There are less expensive LEDs, but quality can be an issue. Mike Rogers, EVP of Green Homes America, a green retrofitting company based in Irvine, Calif., says that while the big box store LED products are not really ready for prime time, he is willing to recommend some of the higher priced products for their unrivaled energy efficiency and quality of light.
Luckily, according to the New York Times, prices are dropping rapidly. The $25 bulb was about twice as expensive six months ago, and some analysts believe it will drop to around $10 within the year.
“Lighting is going to completely change over the course of this decade,” said Alan E. Salzman, chief executive of VantagePoint Venture Partners, in the article.
What is the business case for LED lights? Read more about this energy efficient solution, here.
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