Reasonably imperative that LED Lights Cost is the most sensitive issue for users all over the world. Remember, just a couple of decades ago no matter what your budget, if you needed light bulbs for your home and directly ran to the hardware store and picked up a light bulb whatever it was, only choosing a Wattage based on how bright you needed the light to be, and this was the past scenario.
Now the days are different. People are very choosy, they look for good options products at less price. However, in recent developments of LED technology, the manufacturers have addressed the issue and have been trying to acknowledge the people’s mentality. Although by using modern technology the company has driven the prices down to a level, nevertheless LED lights are more cost effective than CFL or incandescent bulbs. Because of this trend continuing as LEDs have a variety of designs and more applications, while the price keeps going down many times.
As per research and study of Energy Analysis and Environmental Impacts Berkeley National Laboratory CA, in recent years, household LED light bulbs have undergone a dramatic price decline. The lamp prices of LED declined roughly exponentially with time in 2011-2014 and the declined rates of 28% to 44% per year depending on lumen output. Also reported that A-shape LEDs have increased approximately tenfold. Whereas the market price of LED A- lamps has decreased gradually. USA Department of Energy (DOE) forecasts a further threefold decline in LED lamp prices by 2030.
The Data fields of Energy Analysis Berkeley opined that the price of LED lamp included the price, brand quantity of lamps being sold e.g. in a multi-pack, voltage, wattage, lumen output, correlated color temperature (CCT), color rendering index (CRI), bulb shape, and options of dimmability.
How much do LED Lights Cost?
While the building or householders consider installing LED lighting instead or replacing another type of bulb, it is needed to take into account more than just the initial cost. Also, other factors to consider, including the amount of electricity to be saved compared to other bulbs and lifespan.
If we look back, a few years ago, the prices for LED bulbs were so upward, which was unimaginable. Whereas the cost of 60 Watts bulbs is an amount of $100 for one bulb, but now you can pick up the same (60 Watts) LED light bulb for less than $5 only.
LED light cost depends on what you wanted to do – replace existing bulbs with LED, old light fittings to LED, or install new LED. Whatever you intend to do LED lighting is increasingly affordable for installing or replacing. In recent days LED bulbs prices are very competitive and continue dropping as they become popular and widely used. The prices for a variety of bulbs are given below:
|BULB TYPE||WATTS||PRICE PER UNIT|
|GU10, 240V||LED 5.3 W||$ 7.43|
|MR16,12V||LED 5.5 W||$ 11.9|
|STANDARD GLOBE REPLACEMENT||LED 10 W||$ 12 – $ 18|
|COLOR CHANGING BULB (PHILLIPS)||SMART||$ 79.95|
In addition to that, if you consider to purchase Down light kits, which included the bulb, driver, fitting, lead and plug, that you can have with some typical prices as:
|BULB TYPE||WATTS||PRICE PER UNIT|
|Downlight kit (single unit, low profile and dimmable)||LED 12 W||$ 19.99|
|Downlight kit (single unit, dimmable)||LED 13 W||$ 28.00|
It is expected that LED lights will come with a 3 to 5 years warranty and last up to 50,000 hours (over five years times). Usually, the price of LED light bulbs depending on the quality and good quality provides you with enough light as per your expectation.
Installation of LED Light bulbs:
There are some Electrical Contractors and lighting houses, who provide services 60% to 75% cheaper with LED for retrofitting. They charge around $60 per point for installing LED downlights and also the price range for competitive quality fittings is between $22 to $35 each. Actually, the price range depends on each client’s specific installation as needed.
The Installation or replacement of LED light bulbs is very easy. An expert electrician to take 5 to 20 minutes per light for a simple replacement or retrofit of Downlights. If you need to install new LED Downlights, obviously is a bigger job than typically involves accessing the Ceiling cavity and installing new wiring. In that case, this could take anywhere from 2 to 3 hours per room, depending on the number of lights being installed.
In order to have an accurate idea of installation or replacement cost, you can contact a professional electrician or contractor in the marketplace or hardware shop where they are available. As such, you will get the actual market rate of costing and this is a good way for fixing light bulbs, whether new installation or replacement or retrofit.
How much power to LED light use?
From the inception of manufacturing Light-Emitting Diode (LED) bulbs in advanced technology and method is a good energy-efficient option for lighting. This product often beats out CFL light bulbs in power efficiency and longevity at a similar price. There is typical cheap LED light bulbs that promote marketing as providing 800 lumens and lasting up to 10,000 hours at 10 watts, which is equivalent to 60 watts incandescent.
It may find out calculating the electricity cost of a single LED light bulb running at 10 Watts for 5 hours a day, which price @ $ 0.10 per kWh and you can modify the input fields if needed. Here is a chart for ready reference.
ELECTRICITY USAGE AND COSTING CHART
|Cost Per Hour||Hours Used Per Day||5|
|Cost Per Day||Power Used (Watts)||10|
|Cost Per Month||Price (kWh)||0.10|
|Cost Per Year||Calculate||Reset|
|kWh Per Day|
Hours Used Per Day: It is easy to calculate the hours used per day, as you can enter how many hours the device is being used on average per day. If found, the power consumption is lower than 1 hour per day, enter as a decimal (for example 30 minutes per day is 0.5)
Power Use (Watts): Almost the same way you can do, enter the average power consumption of the device in watts.
Price (kWh): You may enter the cost you are paying on average per kilowatt-hour, and our calculators use the default value of 0.10 or 10 cents. In order to find an exact price, check your electricity bill or take a look at Global Electricity Prices by searching google or through your internet.
LED Light bulbs Cost Comparison Chart
The consumers used to buy CFL light bulbs for temporary solutions to energy-efficient lighting, while first-generation LED light bulbs arrived in the market with narrow and focused light beams and the cost was too much. With the advancement of Science and technology LED light bulbs are quickly taking over as the bulb of choice and replacing incandescent bulbs at a rapid pace now that many countries have instituted mandatory discontinue of the practice.
In Fact, the consumers choose LED light bulbs comparing the features, light output with cost comparison equivalent wattages. Following the comparison, Charts illustrate the value of the latest LED bulbs compared with CFLs and Incandescent Bulbs for overall efficiency and cost-effectiveness as well.
Comparison Chart Between LED, CFL and Incandescent Light Bulbs
|Light bulb projected lifespan||25,000 hours||10,000 hours||1,200 hours|
|Watts per bulb (equivalent 60 watts)||8.5||14||60|
|Cost per bulb||$ 5||$ 2||$ 1|
|kWh of electricity used over 25,000 hours||212.5||350||1500|
|Cost of electricity (@0.10 per kWh)||$ 21.25||$ 35||$ 150|
|Bulbs needed for 25,000 hours of use||1||2.5||21|
|Equivalent 25,000 hours bulb expense||$ 5||$ 5||$ 21|
|Total Cost for 25,000 hours||$ 26.25||$ 40||$ 171|
Energy Savings over 25,000 hours, assuming 25 bulbs per household
|Total Cost for 25 bulbs||$ 656.25||$ 1000||$ 4275|
|Savings to household by switching from incandescent bulb||$3618.75||$3275||$ 0|
Remarks on the above Chart:
Electricity Cost: Our sincere observation on the chart is that the cost of electricity might be varied in many different countries, states, and for remote areas of different regions. This is to be noted, supply of electricity is not the same all over the world. People of different areas consume electricity, whether by the government or private sectors. That’s why the price rate may fluctuate.
Bulb Cost: It makes sense that the cost of the Bulbs, whatever LEDs, CFL or Incandescent also might be different due to many causes, including communication, tax regulations, and distance. We used this estimated price figure in the chart as an average among lighting retailers.
Lifespan: Estimated lifespan is shown in the above chart, which may also vary concern with different manufacturers. Actually, the lifespan depends on the quality of the product and using the system. If any kind of light bulb is used roughly like 24 hours a day or whole month or always around the year, that can be different with the household users, who use the light bulb occasionally.
Breakage & Replacement: Breakage, replacement, and warranty or guarantee are not exposed in the comparison chart. Incandescent and CFL bulbs are more easily broken than LEDs, which increases their cost.
Analysis on Global LED Lighting products Cost Trend
In the past few years, the market value of LED lighting has continuously expanded with the progress of technology. In accordance with various studies and to the latest report, the LED lighting market scale will reach US Dollar 33.3 billion in 2019, and LED lighting market diffusion will come to 63% in the year 2020 from 22% in 2017.
The LED lighting market has increasingly attracted many companies to enter. The advancement of technology also helped to reduce the production cost while enhancing the efficiency and operational lifetime of LEDs. Due to these reasons, LEDs face vicious competition between LED Lighting manufacturers. As a result of which a dramatic price drop of LED lighting products in the past few years. And the falling prices have damaged the margin of the lighting industry group.
The studies also have been tracking and surveying street prices of LED light bulbs with best efforts. As per collected data during the period of 2011 thru 2018, it shows that the average price of 60 Watts equivalent LED products has dropped from around US Dollar 45-50 in January 2011 to below US Dollar 10 by July 2018. It is determined that the present price for LED lamps products is only one-fifth compared to the price seven years ago.
In the scenario of the competition, the profit of producing LED lighting products has therefore become win and flat for lighting manufacturers. International lighting manufacturers have amended their operation strategies or reorganized the business.
Having frustrated and found no other way, Osram has completed the sale of its offspring, LEDVANCE to a Chinese consortium consisting of IDG, MLS, and Yiwu announced to sell its luminaires business earlier this month. GE has gradually closed its lighting sales in different regions and might sell the lighting business to Chinese buyers.
On the other hand, with the advantages of manufacturing cost, Chinese lighting manufacturers are completely able to hold the market in their grip. Also, they have accumulated the capability to enter the international market. Due to the current trade war between China and the USA, the lighting manufacturers might encounter more challenges with the falling price of LED lighting products plus the tariff imposed on them which will come into effect by August 2023.
Frequently Ask Questions
Are LED lights harmful to eyes?
Yes! Health authorities warn in the report that LED Light can damage eyes. Blue light in LED lighting can disturb natural sleep rhythms and may damage the eye’s retina. The Government of France run a health watchdog recently. According to Environmental and Occupational Health and Safety is known as ANSES, Age-related macular degeneration a leading cause of vision loss among people over 50. ANSES also said that protection from the harmful effects to retina offered by ‘Anti Blue Light’ screen, filters, and sunglasses varies, and their ability to preserve sleep rhythms is not proven.
What is bad about LED lights?
The use of blue light as “increasingly prominent” nowadays in the world described an American study. As per other review, blue light can indeed damage the eyes if the wavelengths are below 455 nanometers and the intensity is quite high. Professor Tosini was not involved in the ANSES report, wrote in an email, “It is true that exposure to light in the evening affects sleep and circadian rhythms mostly by inhibiting the synthesis of the sleep-promoting hormone melatonin.” Also, he said, “There are blue-light photoreceptors in the retina that directly communicate with the brain circadian clock.”
Can you get cancer from LED lights?
Neither any studies nor any review found that LED Lights have caused Cancer. The Source of cancer seems to be exposure to UV radiation and hazardous chemicals and that may be found in incandescent and fluorescent light bulbs. But undependable research opined that it may cause cancer, which seems to cause blindness by causing permanent damage to the retina.
Is LED light bad for Skin?
According to experts’ opinion, it’s too early to know whether these devices are effective and some small studies have shown promise for certain conditions. Dr. Elizabeth Buzney assistant professor of dermatology at Harvard Medical School said, “I think it’s a really exciting emerging area.” But the evidence is not quite there yet. Whereas, LED lights do not create burns or skin damage. Most impressively, they can be used on every skin type and color. In fact, LEDs do not contain UV light and so are not damaging to the skin.
In conclusion, we have rendered our best efforts to elaborately discuss the subject LED Light Cost in various episodes including pricing chart, electricity usages chart, comparison chart, studies report and detail analysis in this Article. The great potentiality of LED light bulbs is also detailed to replace the conventional fluorescent lamp, mainly driven by the power reduction savings associated with a one-to-one lamp retrofitting.
Therefore, the consumers should be aware of the inherent characteristics of the LED light bulbs, such as poorer total harmonic distortion performance and the quantity and quality of illumination level in this article.
And finally, in recent days, the cost of LED Light Bulbs is only slightly more than traditional bulbs and the money saved from lower electricity use offsets the slightly higher bulb cost within the soonest possible time.