How Much Money Could You be Saving by Installing LED Lighting in Your Home?January 1, 2016 3:02 am Leave your thoughts
There aren’t too many homeowners out there that would turn down a chance to save a substantial sum of money when it comes to cutting back on their energy bills each month. At the same time, a good number of these same homeowners would scoff at the idea of spending a few hundred dollars to have all of the lighting in their home converted to LED bulbs. The irony, is that the two go hand in hand: saving money and LED lighting.
Of all the home upgrades you can invest in, there are few that rival the lasting benefits of retrofitting the lighting in your home to an LED standard. In fact, if you speak to an electrician in North Scottsdale, AZ about the different ways you can reduce your monthly energy bills, more often than not LED lighting is going to be the most convenient and effective way, far and above more extreme upgrades or daily inconveniences.
Now you’re probably thinking to yourself, “are the savings really so great as to justify a larger upfront cost?” This is a valid question and one that’s easily answered: yes! Upgrading to LED lighting is absolutely worth it when it comes to saving money. Let’s take a look at a couple of the ways LEDs drastically reduce your energy costs over regular ‘ol incandescent bulbs:
- The average lifespan of a single incandescent bulb is about 1,200 hours. For LED light bulbs, this lifespan is closer to 50,000 hours—even higher for higher-end bulbs! Right off the bat, an LED light bulb is about 4000% more efficient!
- The wattage required of LED bulbs is significantly reduced in comparison to incandescent bulbs—meaning a 10w LED bulb can be used in place of a 60w incandescent bulb. Essentially, this means 6x the energy savings per bulb!
So as you can see, LED bulbs offer the dual benefit of a) using less power and b) lasting longer than traditional incandescent bulbs. But what does this mean in terms of money? Let’s take a look at an example (warning: math ahead!):
Let’s say you have 10 incandescent light bulbs you want to retrofit with LEDs. Currently, each is a 60w bulb, costing about $1.5 per bulb, with an average life of 1,000 hours. Let’s also say that you pay 10 cents per kilowatt used and that you’re using your lights for eight hours a day, seven days a week. Right now you’d be paying $175.20 per year to light your home using incandescent bulbs—and you’d have to replace your bulbs after about 4 months.
Now, using the same figures above and comparing them to LED bulbs, assuming the LEDs cost $50 per bulb, with a lifespan of 50,000 hours. You’d end up paying about $29.20 per year to light your home, replacing your LED bulbs every 17 years! At this rate, your return on investment would be nearly 74%! In dollars, you’d end up saving roughly $2,500 over the course of your 50,000 hours of LED use.
If you like what you see above, talk to an electrician in North Scottsdale, AZ about upgrading to LED lighting in your home.
Categorised in: Lighting
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