LED efficiency increased by more than 50% in the past two years, while prices have continued to fall, according to the U.S. Energy Information Administration. Lights can now be purchased for less than $2 per bulb and generate up to $135 in cost savings for the lifetime of the bulb.
LED manufacturers are not only increasing efficiency, they’re expanding options. EIA reports several manufacturers released Energy Star-qualified LED bulbs surpassing 100 lumens per watt in September 2014.
As a result of falling prices and favorable incentives, LEDs keep gaining market share. LED shipments skyrocketed from around 9 million light bulbs in 2011 to over 45 million bulbs in 2013.
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