If your home is still being lit by incandescent lightbulbs, consider yourself stuck in the stone ages. Incandescent bulbs and compact fluorescent lights (CFLs) end up costing you more over time due to their lack of efficiency.

You might be wondering, “Aren’t LED bulbs more expensive than regular incandescent bulbs or CFLs?” The answer to that is yes and no. Let us explain.

The initial cost to purchase an LED bulb is a bit more expensive. If you look at prices you can see that LED bulbs typically cost a little less than double the amount of incandescent bulbs. For example, when looking at the prices of 2-bulb packs of GE lightbulbs at Target, the incandescent bulbs cost $4.99, CFLs cost $2.50 and LEDS cost $8.99.

Sure, the upfront cost of the lightbulb is important to consider, but what about the costs associated with using each bulb? The typical American household has around forty lightbulbs. The average rate for electricity is 13 cents per kilowatt hour, according to the EIA. So if each bulb was a 75-watt incandescent light, you would be able to get the same amount of light by converting each bulb to an 11-watt LED light. If you were to then leave those lights on for five hours a day, you would save roughly $600 a year with LED bulbs.

CFLs are much more efficient than regular incandescent bulbs, but long-term they prove to not be a match when up against LED bulbs. Simply because the lifespan is shorter, while the wattage is still higher. If you currently have a mix of both incandescent bulbs and CFLs, you’ll want to strategically replace them. We’ll explain how to later. First let’s understand how LED lighting has impacted our nation.

A brief history on LED’s.

Knowing what you know so far, would you believe us if we told you that 2007 still holds the record for most U.S. energy usage? Well, it does.

It really wasn’t around 2009, when LED prices started to drop. Once they did though, incandescent bulbs began to see their grip on the lighting industry weaken. According to LEDone Distribution, “Even with exponential growth and adoption of LED technology, it took until 2016 when they finally unseated incandescent bulbs as the go-to technology for consumers of all types (61% of market share).”

It’s why our nation’s energy usage has steadily declined. According to Energy.gov, LED bulbs use approximately 75% less energy than incandescent bulbs, which is why they have become the dominant product within the lighting industry.

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How to efficiently make the transition to LED’s.

The first step of the transition – which needs to be done immediately after you finish reading this article – is replace your current incandescent bulbs for LED lights. Replacing these old inefficient bulbs all around your home can potentially save you up to $300, if you happen to have the average amount of bulbs per household.

If all the bulbs in your home are CFLs, then you don’t necessarily have to pull the trigger now to make the change. If you swap CFLs for LED’s you’ll only end up saving anywhere between $20 to $30 a year. That’s why for CFLs, it is typically better to wait until they burn out, to then make the change to LED’s.

LED technology continues to expand. Lighting companies such as GE have utilized smart technology within their bulbs. Now you can install a modern LED lighting system that can change colors, while being controlled from your mobile phone.

LED lighting was recently looked at as a new innovative form of lighting. But now, it has established itself as the go-to bulb that’s dominating the market. So do yourself a favor, and go purchase your LED bulbs immediately – then feel free to thank us after.