How Much Does LED Lighting Cost?
Would you like to reduce your home or building’s electricity bills? LED lighting is an energy efficient alternative to incandescent and florescent lighting that uses far less electricity, helping you minimise your energy bills.
LED light bulbs also last up to 50 times as long as incandescent bulbs, deliver higher quality light and, unlike other energy efficient bulbs, are bright the moment they’re switched on.
But how much does LED lighting cost? Although LED light bulbs have a reputation as expensive, their low electrical consumption and long lifespan mean that it costs less to use an LED bulb, over the long term, than a fluorescent or incandescent bulb.
The cost of LED light bulbs vs. common alternatives
LED light bulbs have become significantly more affordable over the past five years. A standard nine watt LED lamp (which provides a level of brightness roughly equal to a 60 watt incandescent light bulb) can be purchased for approximately £14.
Incandescent bulbs that provide a similar level of brightness are available from just £1 each, while energy efficient compact fluorescent bulbs are available from just £4 each.
At first glance, LED lighting appears to be significantly more expensive. It costs 14 times as much to purchase an LED light bulb as it does to purchase an incandescent bulb, and almost four times as much as the cost of a CFL light bulb.
This comparison, however, ignores two important factors. The first is that LED light bulbs have a significantly longer lifespan than CFL and incandescent light bulbs. The second is that LED lighting uses far less electricity than alternative lighting options.
The cost of LED bulbs (per hour of use) vs. common alternatives
On average, LED lamps last for approximately 30,000 hours. Some LED light bulbs are designed with an average lifespan of 50,000 hours, although these are typically priced at a higher rate than the industry average price used above.
In comparison, incandescent lights typically last for 1,000 hours of use, while CFL lights are typically rated for a maximum lifespan of 10,000 hours.
If you light your home or building for 10 hours per day, the cost of LED lighting, not including consumed electricity, is approximately £0.0047 per day or three pence per week. Over the course of one year, the approximately cost of an LED lamp is £1.70.
Let’s compare that to a more modestly priced fluorescent light bulb, which costs just £1 to purchase.
If you light your home or building for 10 hours per day, the cost of each fluorescent light bulb, not including consumed electricity, is £0.01 per day or seven pence per week.
Over the course of one year, the actual cost of a £1 fluorescent bulb is £3.65. This is because each bulb needs to be replaced after approximately 100 days of use due to its shorter lifespan.
Note that this calculation doesn’t include the cost of electricity. Incandescent bulbs, which are in the process of being phased out, consume far more electricity than LED or energy efficient CFL bulbs.
Finally, let’s compare the average weekly and annual cost of an LED lamp with a CFL (compact fluorescent) light bulb that costs £4.
Using the same criteria as the above examples, the weekly cost of each fluorescent light bulb is £0.028, or roughly three cents. On an annual basis, each light bulb will cost £1.46 in purchase costs alone.
Based on purchase price alone, CFL bulbs offer better value for money than older incandescent lights and even beat LEDs. However, this changes when the cost of electricity is added to the equation.
The cost of LED bulbs (in electricity consumed) vs. common alternatives
Let’s add the annual operating costs of each lighting option to our calculations. An incandescent light bulb that uses 60 watts of energy and costs £3.65 per year has a total annual electrical cost of £7.20.
This means that over the course of a year, an incandescent bulb (which will need to be replaced three to four times) will cost £10.85. That’s quite a different figure from the seemingly cheap £1 purchase price.
A fluorescent light bulb, which costs £1.46 per year, uses approximately £1.70 worth of electricity over the course of the year. In total, it costs £3.16 per year to use a CFL light bulb, assuming typical usage of 10 hours per day.
Finally, an LED light bulb costs £1.70 in purchase costs alone per year. It uses £1.08 of electricity. The average total cost per year of an LED light bulb is £2.78, assuming typical usage of 10 hours per day.
On an annual basis, with electrical consumption and purchase costs considered, an LED light bulb is 12% cheaper to operate than an energy efficient fluorescent bulb, and 74% cheaper than an incandescent bulb.
Make the switch to LED lighting
Over the long term, LED lighting is significantly more cost effective than fluorescent and incandescent lighting. The more electricity you currently use to light your home or commercial building, the more you could save by switching to LEDs.
Would you like to spend less to light your home or building? LED lighting is a cost effective, long-lasting and environmentally friendly alternative to fluorescent and incandescent lighting.
Switching to LED lighting could save you as much as £240 per year as a homeowner and significantly more as a business. You also benefit from a measurable increase in productivity made possible by the healthy light emitted from LEDs.
We specialise in energy efficient lighting and renewable energy and can help you make the switch to LED lighting. Our team of experts have provided LED lighting equipment, advice and assistance to homeowners and businesses alike.
Would you like to make the switch and lower your electricity bills? Contact us to learn more about the advantages of switching to LED lights and the LED lighting products available for your home or business.