LED have tremendous efficiencies; therefore, the LED lighting technology is revolutionizing illumination, as we know it. From streetlights, interior lights to industrial lights – LEDs are rapidly integrated.
McKinsey surveyed 4,000 experts and business leaders on “Which technology they expect is the most promising to be commercially viable in 2020”. 72% of all replied that LED is the most critical technology – beating all other clean technologies.
LED’s efficacy (lm/W) outperforms all other lightning sources. Moreover, as LED reduces energy consumption it also does the same for the carbon footprint.
With a global goal of reducing CO2 emissions, to prevent major climate changes in the future, a reduction in CO2 emissions of more than 50% is LED’s contribution to a more sustainable future.
Finally, the savings generated by upgrading to LED often results in a payback period of less than 3 to 5 years, despite that LED is having a higher Capital expenditure (CAPEX) than traditional light sources, but a much lower OPerating EXpense (OPEX)