A new lighting industry survey revealed businesses expect revenue growth for energy efficient lighting solutions.
The majority of lighting professionals expect more people to turn to energy efficient lighting solutions this year. Lighting manufacturer Precision Paragon recently conducted an Energy-Efficient Lighting Industry survey, which showed lighting trends that of the more than 4,000 energy efficiency professionals that participated, 77 percent expect revenue generated from energy efficient lighting to increase in 2013.
The increase in respondents who predicted growth in energy efficient revenue is up 7 percent from last year’s predictions. In 2012, 69 percent of those who responded to the survey expected moderate or substantial growth in revenues from energy-efficient lighting. At the end of the year, 67 percent reported a growth in revenue, a difference of 2 percent between expected and actual growth, the report stated.
Technology development in energy efficient fluorescent lighting means an increased lifespan and bulbs that will last for about 18 years for lamps operating 12 hours a day for an entire year – or about 80,000 hours, according to the report.
“Whether you’re looking at the available technology or the opportunity for energy savings, this a great time for the industry, and for end users who benefit from the savings,” said Precision Paragon Vice President and General Manager Joe Martin.
Continued improvement in light-emitting diode technology as well as energy-efficient fluorescent lighting will keep consumers interested in new lighting projects. Fluorescent lighting is expected to remain the predominant technology installed in 2013. A total of 68 percent of those participating in the survey predicted linear fluorescent to be the primarily lighting technology installed this year compared to 26 percent of lighting professionals participating in the survey expect LEDs to be their dominant light source installed.
The results of the survey also revealed that the energy-efficient lighting market is growing. Businesses participating in the survey since 2009 showed an interest in improving light quality while also reducing energy costs.
Energy efficiency consultants at Lumenistics can provide business and building owners with additional details on the benefits of lighting solutions such as LEDs.