Why is it that LED lighting is becoming cheaper and cheaper?

Why is it that LED lighting is becoming cheaper and cheaper?

According to the CEO of Philips Lighting North America, LED lighting will play a very dominant role in the future when it comes to interior lighting. LED lighting has experienced a lot of positive developments and is, therefore, being used by more and more people around the world. They replace traditional lightings such as incandescent and halogen lamps. And since LED lighting lasts much longer and can also greatly reduce costs, this is a trend that will most likely only continue. It is therefore expected that half of all the lamps sold will not only be LED lamps but that this will even rise to 75 percent by 2020, which is, of course, an insanely large growth.

Always cheaper

Due to the lower production costs but also due to the ever-increasing competition, the price of the LED lamp will fall particularly quickly. The advantage of this is that LED lighting will become much more accessible to consumers in this way. Now, for example, you pay 60 percent of the price that you had to pay three years ago. A huge difference.LED lighting has not only improved enormously in terms of quality, but the prices that one has to pay for LED lighting are also decreasing, and that while there is absolutely no compromise in quality.
A LED lamp, therefore, lasts much longer than other lamps. The lifespan of LED lighting is therefore mainly determined by the heat development within the system itself. An LED lamp can easily reach 50,000 burning hours and this can even be much more, depending on the quality of the LED lamp. You know for sure that with LED lighting you do not have to replace the lamps every once in a while. And, as said, you save a lot of money with it. The energy bill will fall considerably and in general, an LED lamp has managed to earn itself back after two years.

Difference between other countries like Europe and the USA

In contrast to Europe, mainly LED lamps of 50 and 70 watts are sold in America. The numbers go up to around 425 million a year, which are of course crazy numbers, but it is, therefore, a very large country with a very large population. The reason for using 50 and 70 watts is because Americans want to illuminate as much area as possible with one LED lamp. In Europe, people prefer to buy more and different LED lamps. In addition, LED lamps with a lower Wattage were the first available in Europe, which can of course also be a reason for this.
The fact that LED lighting is on the rise is, of course, to be expected, as people are becoming more environmentally conscious. Ultimately, it is true that LED lighting is much better for the environment, if you only look at how much energy you save, but also at how little you have to replace LED lamps.