Calculate the Energy You Save in Dollars by Going LED Lighting
LED lighting, without any doubt, provides numerous benefits for not only domestic users but also to business organizations as well. They can be truly called “next generation technology” owing to its extensive features and multiple uses. LED lighting, more or less, has already replaced the out-dated fluorescent and CFLs lighting. The benefits they offer are:
1. Lower Maintenance costs
3. Less power consumption
4. Brighter light output
The biggest of the benefit that you can derive by opting for LED light Bulbs is conservation of energy. Read on to know the method for calculating the amount of energy and money you can save by opting for LED lights.
The electricity supplied to our domestic and commercial purposes is measured and calculated in watts. A Watt is equivalent to one joule per second; it is the SI unit of power whereas a kilowatt is equivalent to 1000 watts. As per an estimate, the average price per kilowatt, people in the US pay is around 12 cents(NY and CA are as high as .23). However, the price varies from state to state where Idaho having the lowest most prices and Hawaii having highest-most.
On an average, lights in a house or commercial lighting are on for about 8 to 10 hours and you end up spending a lot more of your budget on the cost of electricity if you are using the old incandescent or CFLs. Studies show that 50% to 80% electricity can be saved by replacing your outdated lighting with LEDs which means if your electricity cost will also reduce with the same percentage. As per an estimate, a single LED corn bulb will only cost around $3 if you run it for 5 hours a day.
Apart from saving electricity and the cost you spend on it, LED lights give another major reason for you to buy them, which is their durability. They can last up to 25 times more than the traditional incandescent bulbs.
The only downside with LED lighting is that they might be a bit expensive up front, but the prices have come way down. UFO High bay Lights are about half of what they were a year ago. LED Parking Lot Lights are down about 60%. However, the utility they offer is much more than the traditional lighting system used in your houses. You can get LED bulbs in different forms to cater all your needs. They can work equally well for both indoor and outdoor use.
Let’s calculate the numbers of years it will take for your LED lights to get you return on your investment. The ROI can be simply calculated by observing the following example:
For calculating ROI you need to know the cost of the investment and savings you make through LED lighting, the investment. The formula used for calculating ROI is subtracting the cost from savings and dividing it by the investment. For example; if your cost is 500$ and the amount of saving is 3000$, ROI will be:
(3000$ - 500$)/500$ = 5
Since ROI is usually expressed as a percentage so the answer will be multiplied by 100 and it will be 500%.
Keeping the above estimate in mind, it can safely be said that LEDs, for sure, should replace the existing fluorescent and CFL lights in your homes.