Of the different types of lighting you can buy, buying LED lights is one of the best ways to reduce your energy bills throughout the year. While there are many other lighting options - including incandescent, halogen and compact fluorescent lamps (CFL) - none of them can match the savings one gets from LED bulbs in the long run. In fact, LEDs are now the most popular lighting used in homes and businesses. In 2019, Statista reported that almost half of all light sources are LEDs, and by 2030 this number is expected to reach 87%.
First, LED bulbs are very efficient. A 16.5-watt LED bulb can be used to replace a 75-watt incandescent or a 22-watt CFL, according to nonprofit Green America. The organization also noted that LEDs have a very long lifespan. Although the lifespan of these high-efficiency bulbs may be affected in part by the level of bulb manufacturing, they can be one to three times longer than fluorescent lamps and 24 times longer than incandescent lamps.
The U.S. Department of Energy (DOE) estimates that 15 percent of the average household's electricity bill goes to lighting. For homeowners, switching to LED bulbs can lead to substantial savings. Best of all, you get the same level of lighting as a CFL or other bulb type, but with lower energy usage and less money. According to the DOE, by changing from other light fixtures to LED fixtures, people can save $225 per year in energy costs. It is understood that the cost savings will be most pronounced in homes that replace incandescent lamps. This may not seem like a lot, but it has increased over a period of time. In a survey published by the Consumer Federation of America (CFA), it was estimated that some consumers could see energy savings of about $1,000 over 10 years, assuming at least 20 lights in their homes were switched to LEDs.
While reducing energy is a bit of a cost saving, it can also save you money due to the long life of LED bulbs. While the upfront cost of these bulbs is usually higher, their longer lifespan means you don't have to buy replacements as often. For example, Philips claims its latest generation of Hue LED bulbs can last for 25,000 hours or 25 years. Compared to incandescent bulbs, which cost only a dollar, they have a much shorter lifespan, requiring replacement after an average of 1,000 hours of operation.
Soon, LED lights will be the only option. Soon, buying non-LED lights will no longer be an option.
In 2022, the Biden administration implemented energy regulations that would phase out the use of non-LED lights, in addition to banning the manufacture and sale of non-LED lights starting in 2023. Officials expect the move will collectively save consumers $3 billion a year in utility bills and reduce global carbon emissions by 222 million metric tons a year. This amount is equivalent to the annual emissions generated by 28 million homes. At the same time, people can still save on lighting bills by making sure that the wattage, color and lumens of the LED bulbs they choose are suitable for the space they are in, or they may have to spend more money on different bulbs. Users can also save money by turning off lights when not in use, which is where smart plugs come in. Plus, people can opt for smart LED lights, which can cut their bills even further. With smart bulbs, users can schedule when their lights are on and off, while also tracking energy usage to see when their home is consuming the most energy.