Interesting question which motivated me to put some numbers to it with these facts & assumptions:
1) Weāre buying the bulbs today because we donāt know future bulb prices or specifications.
2) Weāll analyze cumulative costs for two scenarios: Scenario #1 where each bulb is used continuously for 3 hours/day and Scenario #2 where theyāre used intermittently for 30 minutes/day.
3) Cree 100 watt equivalents cost $21.79 each after taxes, use 18 watts, and will last their rated lifetime of 25,000 hours when used in Scenario #1.
4) GE Energy Smart CFL 100 watt equivalents cost $2.60 each after taxes, use 26 watts, and will last their rated lifetime of 8,000 hours when used in Scenario #1.
5) In Scenario #2, due to the on and off usage, CFLs will only last 1/6th of their rated lifetime (1,333 hrs) and LED bulb lifetime will be equally degraded or less so.
6) Electricity costs are from the U.S. Bureau of Labor Statistics for two cases and assumed to increase by 2% per year: east coast starts at 23.2 cents per kWh and the national average starts at 13.4 cents per kWh.
And I live on the East Coast.
Donāt know anyone paying 23 Cents per Kilo hour.
It may have spiked in Jan. to near those levels somewhere on the East Coast, But I do not have variable rate, so was unaffected.
Regardless, As LEDās come down in price I will upgrade them as needed. I got CFL 60 watt equivalents a couple years ago, 8 for $2.78.
Still have some in stock. Shoulda bought more, same old story.
What everybody misses is that it is wrong to use that stated 23 year life span in their cost analysis of the LED bulbs. Those bulbs will NOT last 23 years, not necessarily because they burned out, but because there will be improvements made in the bulbs of the future that will render them OBSOLETE. Yesterday I replaced 6 LED bulbs that I had in exterior lamp posts. I bought them less than 1 year ago at COSTCO. I replaced them with the Creesā that I just got at Home Depot. They emit more light towards the ground and the color is warmer. I will reuse those āolderā bulbs someday, but my point is that it is bad economics to prorate the initial cost over 23 years. It will most probably NOT be recovered.
We pay about 9 cents per kwh for the generation electricity. There is another line item charge of about 9 cents per kwh, that is for delivery.
I have my bulb stickā¦ make changing most of them easy. The problem wass having to pull down a hundred or so bulbs to check their microscopic &*$#^@ date codes for a recall. The ones that I canāt get to are above a stairway and those under the second story eaves.
Frankly I donāt see the costs of LED bulbs coming down spectacularly any time soonā¦ even if the emitters were free, there is a lot of other stuff in the bulbs and that is all mature technology/raw materials and that aināt goinā nowhere but up.
I can think of an entire political party that lives by that, someone once said you can hold any opinion you want if you donāt test it too thoroughly.
(but seriously, a 1xAA Zebralight gives me like a month worth of light per charge, and only costs about five or ten watt-hours to chargeā¦ compared to the kilowatt-hour Iād be spending for a month of light from a single bulbā¦ a flashlight easily provides a 99% savings on the electric bill)
Ooh, I know. Maybe I should go work at a coffee shop whenever I need to charge batteries. I could save, like a whole cent every few months! (and itād only cost me a buck or two in gas each way, plus a few more for coffee)
Easy solution. Get a bicycle, then you spend nothing on gas. Let me know if you need any other financial advice. I can help you make a small fortune if we start with a large fortune
No, itās not much light. But I only need about 3 lumens (maybe 10, with a floody beam) to see what Iām doing pretty clearly.
Even with 99% power reduction, itād still take several years to save enough on electricity to pay for a decent flashlight. The difference between LED and CFL today seems pretty negligible in terms of operating cost, unless you have hundreds of bulbs running several hours per day. For most people, it seems like kind of a moot point.
I didnāt fill my home with LED bulbs to save money.