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LED lighting is becoming more common each year. Its market penetration is expected to hit 31 percent this year while its global market reaches $25.7 billion dollars.
Lighting accounts for about 20 percent of the world’s electricity consumption. And with that, merely six percent of the greenhouse gas emissions from lighting is equivalent to a whopping 70 percent of emissions from the world’s passenger vehicles.
With lighting creating that much greenhouse gas, the continuing rise of LED lights will be beneficial in protecting the environment. LED lightbulbs consume 25 percent less energy than CFLs and about 66 percent less than standard light bulbs.
Their market penetration is expected to reach 64 percent by 2020, which could greatly reduce the energy used and the greenhouse gas emissions from lighting. Their prices are also expected to fall 80 percent by 2020, making them a much more affordable option.
Along with using less energy, they also last much longer than regular lightbulbs. Instead of years, they could potentially last decades depending on frequency of use. This would also help consumers by reducing the number of lightbulbs they need to buy over time.
Switch over to LED lighting at home and see the difference it makes in energy consumption. The next power bill could be significantly lower.