Do LED Lights Really Save Money?
It’s 2019, Internet-capable LED light bulbs are all the rage and there’s reason behind the movement. LED bulbs boast an estimate of 20 hours more in terms of life expectancy, meaning 1 LED bulb would last as long as 20 of your standard incandescent bulbs at only a slightly higher price! So, the question is, Do LED Lights Save Money?
So, do LED lights really save you money?
Before we go into this, I must say this only works should you actually put LED (light-emitting diodes) bulbs in the correct places, I read an article on moneytalksnews which stated the writer bought extra bulbs for areas where the bulbs weren’t really used and as such they couldn’t actually put those statistics inside their equation on saving money.
Regardless of that, let’s break this down! I’ve already written an article where I break down the best smart bulbs of 2019 so this may be something you wish to read later on as I won’t be covering those here.
Should you make the switch to LED light bulbs?
You should ask yourself the following questions before going ahead with this:
- How long are you planning on living at your current residence? Are you going to leave LED lights there or put the older bulbs back again?
- How long are the lights you run going to be on? If they’re hardly on, is it worth investing in an LED bulb?
It’s easy to say you’ll spend the expenses on all your bulbs for easier management and for those of you who have OCD like myself, it is difficult not to do this across the board. Yes, I do have a smart LED bulb for my closet.
CFL vs Incandescent vs LED
Most people who have older properties or rent will likely have CFL or Incandescent bulbs and replacing these bulbs is stupidly expensive for the lifespan they have. The actual cost of an LED bulb upfront is almost 5x as expensive as their counterparts but last 20x longer.
To put it bluntly, one quality LED bulb will be less expensive in the long run and will end up saving you money which equates to the difference of the bulb and more in its life time.
Check out this breakdown of information of the comparison of bulbs:
|Approximate cost per bulb||£3 – £7||£4 – £8||£9 – £40|
|Average lifespan||1,200 hours||8,000 hours||25,000 hours|
|Total purchase price of bulbs over 23 years||£63 – £147||£12 – 24||£9 – £40|
|No. of bulbs needed for 25,000 hours of use||21||3||1|
|Total cost of electricity used (25,000 hours at £0.12 per kWh)||£180||£42||£30 – £35|
|Approximate Total purchase price of bulbs over 23 years||£243||£54||£39|
As you can see, long term, the LED bulb is a lot better per bulb per 25 years. So if you’re looking for something to get now and to last you till your next house, the LED bulb is the way to go, whether it’s a smart bulb or vanilla bulb.
How much can I actually save with an LED light bulb?
To replace a traditional 60W bulb, you simply need to buy a 6W LED bulb, which seems too good to be true.
If we assume that the bulbs are left on for 10 hours a day, the total power consumption for an older bulb would be 60 x 10 which comes out to 600W (0.6kW). We will measure this in kWh (Kilowatt-hours) with the amount of energy a 1kW device uses per hour.
On that basis, 10 standard non-LED bulbs will use 0.6kWh, if we base this on the standard price of 12.2p kWh, then 10 standard non-LED lights would cost 7.3p per hour to run, which comes out to 73p a day (10 hours). To further, break this down, that’s £5.11 a week and then £21.90 a month.
If you replace all the bulbs with a 6W LED equivalent, you would be using a tenth of the price. So this would then be 7.3p a day, 51p a week, £2.19 a month.
LED Lights Save Money.
There’s no arguing it…
LED lights do save you money long term, but only with the right circumstances. Check out my Flow chart 😉