LED technology is in its infancy and is costly compared to other lighting technologies. However, it is important to consider the life-cycle cost of LED lamps when deciding to purchase a particular lighting technology. LEDs can yield an attractive return on investment when energy and maintenance savings are included. LED products are typically more expensive on a first-cost basis, but prices continue to fall as performance improves.
Maintenance cost savings is an important factor for the adoption of LED technology. Companies and municipalities are adopting LED lighting as these will allow them to improve service levels and reduce costs. Lower maintenance costs come from the exceptionally long life of LED powered luminaries. Payback periods for these luminaries range from 1- 3 years depending on labor costs and the nature of applications. The most significant energy and maintenance savings are realized from lights used in 4 stairwells, emergency lights, etc. that remain switched on 24 X 7. For outdoor lights that need cherry pickers and trucks to replace, the maintenance savings are substantial and breakeven is achieved quickly. For safety and security applications like slippery floors in manufacturing or processing companies, perimeter lighting etc. the failure of a light can have unacceptable consequences. For these applications, the long lifespan of LED technology makes it the best choice.
