LED Lighting Price to Drop Dramatically in Next Three Years
LED lighting price drops 10 times increasing the feasibility and popularity of the technology
Last Monday, Bridgelux held a ribbon cutting ceremony for its new LED lighting manufacturing facility in Livermore, California, hoping, like many others, to cash in on the rising sales of LED light bulbs, even as the price of LED bulbs enters a steep decline.
Over the next three years, the price of equipping a house with LED lighting is expected to drop dramatically, from approximately $2,500 down to only $200 for an entire house. This price drop will be accompanied by further enhancements to the LED bulbs themselves, affording them the ability to offer adjustable color accents. These breakthroughs are made possible by numerous fundamental shifts in the lighting industry, including new policy mandates, technological breakthroughs, and a decrease in the price of both the LED bulbs themselves and the technology behind them.
Not only will LED lighting businesses like Bridgelux benefit from the rise of LED lighting, but other businesses will also reap a reward for installing these lights. While a company today might need to wait seven years before getting a return on the money they spend on installing LED lighting, in three years it will only take that same company two years to receive that benefit, due to the expected decline in the price of LED lighting.