by Christopher Thomas on October 30, 2012
The price of an LED light bulb like our 8W Graphite LED bulb is clearly a lot more expensive than the old incandescent bulbs that we are all used to. So how come we claim that you will save money by using BriteEcoLite LED light bulbs? It all comes down to the cost of electricity, life of the bulb, and the phenomenal efficiency of LED lighting!
In the US, the average electric cost is $0.0983/kwh [Source: US Energy Information Administration]. You can find the average electric cost for you state summarized on the Official Nebraska Government Website.
Our 8W Graphite LED light bulb sells for $12.00, outputs 750 Lumen and has a rated lifetime of 35,000 hours.
A typical incandescent light bulb, like this 6-pack of GE
60W light bulbs at Home Depot sell for $8.77, or $1.46/bulb. These bulbs only output 630 Lumen and are
rated at a mere 1,000 hours.
So we know the average cost of electricity, the price of LED light bulbs and incandescent light bulbs, and we know the lifespan of each. We can do some quick math and figure out the actual cost of ownership over a 1-year and 10-year span.
Let’s assume you have a single bulb that is on for an average of 6 hours/day, that turns out to be 2190 hours/year. Using the national average electric rate, we can determine the 1-year electric cost for each bulb:
Now we can add the cost of the bulbs to the cost of the electricity to find the difference in cost over a 1-year timeframe:
That is a savings of $0.66 in the first year. Now, that might not seem like a lot, but it means that your BriteEcoLite LED light bulb has more than paid for itself in just one year! To truly see the savings, we need to look over a longer timeframe and consider the lifespans of LED light bulbs vs. incandescent bulbs. Even if we assume that the incandescent bulb will last twice as long as its rating, that means we will have to buy five bulbs in ten years, but we only need one LED bulb in ten years!
Total ten year cost:
That is a savings of $117.30 over ten years. Now we’re talking! And this is just with a single LED light bulb that will still last 6 more years and continue to save you money!
Now, if you happen to live in an area of higher electrical costs like our home in California, the savings only get better. California’s average energy cost is $13.01/kwh.
Then the one-year cost of electricity in California for:
And the total ten year cost in California:
For a total savings of $143.50!
Big savings and even brighter LED light! And you are not only saving on your electric bill, you are helping the environment by consuming less energy and disposing of less waste. This is really one of those win-win-win situations, so what are you waiting for!