In 1962, while working for GE, Nick Holonyak, Jr. developed the first visible-spectrum (red) Light-emitting Diode (LED). Ten years later, his work was improved upon by M. George Craford, adding yellow to the visible spectrum and enhancing the brightness of previous reds and red-oranges. And, in 1976, T.P. Pearsall created high-brightness, high-efficiency LEDs for fiber optic telecommunications. Over the next 20 years, as semiconductor technology exponentially improved, the visible spectrum continued to expand to include blue and white, and today, just about every color imaginable can be achieved by manipulating LED wavelengths.
One of the major hang-ups that has kept consumers from making the switch to LED bulbs in the past has been the bulbs’ inability to truly replicate the light output and color temperature of the incandescent bulbs we are all used to. However, recently enhanced semiconductor capabilities have made LED bulbs brighter and given them warmer color tones, making them virtually identical to incandescents. Additionally, in just the last year or two, beam spread technology has also increased, bringing omni-directional LED light bulb options to consumers. With light being emitted in all angles, these bulbs now almost exactly mimic incandescent bulbs in all types of lamps and fixtures.
We all know that regardless of the increased upfront costs of LED bulbs, the impending return on investment results in hundreds of dollars of savings over the course of just one of these bulb’s lifespan. However, with the rapidly evolving technological advancements over the past few years converging with surging consumer demand, the plummeting prices are making it even easier to upgrade to these much superior bulbs. In fact, just four years ago, the worldwide Average Selling Price (ASP) for 40W equiv. LED bulbs was over $40, and recently, from April to May of this year, the ASP declined another 3.2 percent, all the way down to $14.20. Additionally, the ASP for 60W equiv. LED bulbs dipped slightly by 3.6 percent from April to May, all the way down to $19.50. (source: LEDinside.com)
With supply keeping up with demand and costs being driven down, the DOE projects that LED lighting will represent 36% of all lighting sold by 2020 and 74% by 2030, resulting in approximately $30 billion in savings (at today’s prices)! Furthermore, the U.S. Energy Information Association (EIA) projects that prices will dip so far by 2020 that they will be close to rivaling incandescent and CFL bulbs, resulting in the inevitable extinction of incandescent bulbs once and for all. Until then, state-by-state rebates continue to play a major part in making the upgrade more cost-effective in the short-term.
If you’re interested in learning what options are available to you, please feel free to stop by or call your local Batteries Plus Bulbs store. We can articulate the differences between bulbs, advise you on current rebates to take advantage of and help you start saving money on your energy bill right away!
Save money and your favorite device
We repair broken Apple® devices, including iPads®, iPhones® and iPods®, most Samsung® devices and many more. Plus, we have screen protectors for cell phones and tablets.
In-store services include (among others):
• Cracked Screen Replacement
• Button Replacement
• Camera Repair
• Charge-port Repair
• Headphone-jack Repair
• Speaker Repair
• Battery Installation
• Screen Protector Installation
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Batteries Plus Bulbs is owned by Roark Capital Group, an Atlanta-based private equity firm. Roark’s current franchise portfolio includes companies such as: Carvel Ice Cream, Cinnabon, Schlotzsky’s, Moe’s Southwest Grill and more. All of our stores are equipped to design, assemble, rebuild, and test custom battery packs.
We continue to reign as the undisputed leader in the expanding $30.7 billion U.S. battery replacement market and in the rapidly growing U.S. light bulb replacement market estimated to be at $17 billion*. To learn more about our exciting franchise opportunities please visit www.batteriesplus.com/franchising. *Freedonia Research Study