LED Lighting Prices Projected To Fall

When LEDs were first introduced for general space lighting they were expensive, not very efficient, and too dim. Today, LED-based lighting products can successfully compete with rival technologies on the basis of light quality, efficiency, dimmability, and almost any other important metric except for price – which is falling rapidly.

In the coming years, LED prices are expected to fall to a point where savings from electricity consumption will provide a short payback period, according to a report by Navigant Research. This shift will be most dramatic in the share of lamps sold for retrofit projects, where older lighting is often replaced specifically to improve efficiency. Contact Hays Service to discuss plans for a LED retrofit in your building.