If you haven’t been introduced to an LED bulb yet, get ready because they are outshining the competition. According to the Department of Energy, switching a single bulb will save the typical homeowner 36.5 kilowatt hours of electricity a year, with at the national average of 12-cents per kwh, equals a savings of $4.38. In California, the average residential rate is almost double: $.022 center per kwh. And recent price drops make bulbs even more cost-effective than ever. LED bulbs are now entering the market at under $3 per bulb. Ikea and Costco are offering high-quality LED bulbs for less than $2. Walmart has some 60W equivalent bulbs for under $1 each. The savings amounts to over $7 per year, for a bulb that will last your lifetime! The bulb would pay for itself in less than a few months.
LED Bulbs are Coming Down in Price
Notably, Philips’ award-winning LED bulbs have also come down in price. From $45 just a few years ago, it has now partnered with Home Depot and utilities to bring the price of its 60-watt LED equivalent to $2 each (without a utility rebate). Ikea also sells its 60W equivalent LED bulbs for about $2 each. And Wal-Mart has entered the fray by selling its line of Great Value LEDs for less than $1 each. Cree, the American LED behemoth, continues leading not only in the actual LED chip technology, but has been releasing value priced lighting in direct competition with Philips (Dutch based lighting superpower), for consumer LED lights and bulbs.
Why LED’s Are The Smart Choice
To provide some context, even Consumer Reports is now promoting adopting of LED bulbs. The reputable magazine states that “these bulbs are claimed to rival the look, dimming ability, and light quality of incandescents; contain no mercury (as compact fluorescent lightbulbs do); and last up to five times longer than CFLs and 50 times as long as incandescents.” It found that “the best LEDs outperformed the compact fluorescent bulbs on every count.” And no wonder; they are dimmable, the color is better, they last longer and save more money over the long run. In fact, if every 60-watt incandescent bulb in America were replaced with an LED, we’d save $3.9 billion in electricity costs in the first year, according to the Department of Energy. Because power plants, especially those that burn coal, produce so much of the nation’s greenhouse gas pollution, making such a switch would also reduce carbon emissions significantly. One company, NightN, offers an LED light bulb that uses 80% less energy than 60 watt incandescent light bulbs.
2019 is the year to make the plunge. Better color, better savings, better for the planet……this investment is among the brightest ones around.