Pike Research expects the LED market to grow over the next several years.
More cities and towns across the United States are expected to turn to light-emitting diodes (LEDs) to make their street lighting more energy efficient. According to a Pike Research report “Smart Street Lighting,” LEDs will become the second most popular lamp used for street lights by 2015.
The cost to upgrade to LED street lighting has fallen by nearly 50 percent in the global market over the last two years, and analysts expect the prices to continue to decrease. Technological improvements of LED street lights have also helped to garner attention and interest in the lighting solution.
Researchers expect LED lamps for street lighting to produce more than $2 billion in annual revenue by the year 2020.
Energy efficient street lights are also a way for a town to promote “green” projects in the future.
“Smart street lighting systems can provide a backbone for other smart city applications, and conversely, a city investing in networking capabilities for smart city applications should also be looking to include better management of street lighting,” said Pike Research analyst Jesse Foote.
Pike Research said as costs for LED lighting continue to decrease while energy savings, reduced emissions and improved quality of lighting solutions rise, most cities will likely turn to upgraded lighting fixtures.
Pennsylvania town considers LED upgrades
Near Pittsburgh, the borough of Baldwin wanted to reduce energy costs without removing the number of lights illuminating the streets. As a result, they turned to LED lights in hopes to diminish the financial burden that the current sodium vapor street lights were creating for the town.
According to Trib Live, while considering their options of the most energy efficient lighting, town officials determined that upgrading to LED lights were their best option to reduce costs without compromising resident safety.
In 2012, the borough spent $201,808 on electricity to light its street, the article said. However, officials from Baldwin estimate the borough will save approximately $66,000 by upgrading to LED lighting fixtures.
If a town is interested in upgrading to energy efficient lighting, contact the energy efficiency consultants at Lumenistics for more information about available options.