Light Emitting Diodes (LEDs) and Other Forms of Commercial Lighting
To get detailed insights on the decreasing prices of LEDs and a comparative statement on the efficiency of LEDs and other forms of commercial lightings.
Our first hour of research unveiled the following information:
Significant Decrease in Prices of LEDs
- According to archived market studies published in 2013, "the cost of LED was $10 per light in 2013, and it was expected to further decline to $6."
- "The manufacturing cost of LEDs has experienced a steady decrease since 2012 and is expected to decline further in 2022."
- The decreasing ASP of chips and the decrease in the cost of manufacturing components have led to a significant decrease in the overall manufacturing costs of LEDs.
- "The decline in the manufacturing cost of LEDs is also contributing to the reduction in the initial installation cost of LED lamps and fixtures that will accelerate the installation of new LED lamps and fixtures across all application segments."
- As compared to traditional incandescents, halogen incandescents, CFLs, LEDs are energy and cost-efficient, and they have a higher bulb life as well.
- The US Department of Energy reported the annual energy cost of LEDs to be $1.00.
- "Nearly 100% of the emitted energy from an LED source is useable visible light."
- "Due to varying energy use, LED traffic lights are known to last approximately 10 times longer than incandescent traffic lights."
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