How much are you currently spending on your electricity bill?
According to ENERGY STAR, the average American spends about $2,000 a year on home energy costs.
Depending on your state and the time of year, you might spend between $75 and $100 a month on electricity alone!
That kind of cash adds up over the years. And in the dark winter months, your electricity bills may soar even higher.
One of the most effective ways to save money on your energy bill is to install LED light bulbs everywhere in your home.
Here’s how much money you’ll save by installing LED light bulbs…
Why LED Bulbs?
An LED bulb is the epitome of energy efficiency! It needs 10% to 20% less energy than an equivalent incandescent bulb does to produce the same amount of light.
That’s because LEDs use 80% of their total energy for producing light, compared to incandescent light bulbs — which actually lose the same amount of energy to heat! (No wonder your electricity bills have been so high in the past.)
An LED light bulb is more expensive than a regular light bulb. However, the lifespan of an LED bulb is a whopping 50,000 hours — 25 times more than the lifespan of a regular light bulb!
This means that over the years, you’ll not only recoup the cost of the LED light bulb you bought, but you’ll also save hundreds — maybe even thousands — of dollars on your monthly electricity bills. (I’ll prove it below.)
LED light bulbs use a fraction of the energy as incandescents, but at $9 to $25 a pop, they require a big up-front investment. Source
How Much Money Is Saved Buying LED Bulbs
So, exactly how much money can you expect to save on your electricity bill after replacing your light bulbs with LEDs?
The answer will vary slightly, depending on your normal electricity costs and the specific type of LED bulb you choose — but most people find that they save over 90% per month after switching to LED light bulbs.
If your electricity bill is usually $100…
After you replace your incandescent bulbs with LED light bulbs, you’d be looking at paying only $10 per month. Over the course of one year, you’d save $120.
Now, factor in the long lifetime of your LED bulb (about 17 years if using your LED’s light 8 hours a day, every day)… $120 a year for 17 years is $2,040!
Here are the differences between CFL light bulbs vs. LED light bulbs.
If you used a bulb for just 2 hours a day and paid the national average of 11.5 cents per kilowatt hour, a single 12-watt LED will cost you about $1 per year. Comparable CFLs that consume about 14 watts come to $1.17 per year and about $5 a year for 60-watt incandescents in that scenario. Source
LED Light Bulb Savings Calculators
Go ahead… plug your own numbers into a light bulb savings calculator and see what your actual numbers are:
- Philips LED Savings Calculator
- Southwire LED Light Bulb Savings Calculator
- The LED Authority’s Energy Savings Calculator
The Bottom Line
What would happen if every American household replace a single LED light? Yep, just one…
According to GE, the nation’s energy costs would be slashed by nearly $400 million. That should give you an idea of the savings potential when using LEDs instead of regular light bulbs.
It’s easy to make the switch to LED lighting in your home. All you need to do is purchase enough LEDs to light your home, replace each incandescent bulb with an LED bulb, and then sit back and enjoy the savings.
The best part is, there’s no additional cost, additional maintenance, or unforeseen hassles.
So go ahead… install your new LED lights this month. It might be the first month in history that you actually look forward to receiving your electricity bill!
Here are the 5 best cheap LED light bulbs for your home.
I like to help people find unique ways to do things in order to save time & money — so I write about “outside the box” ideas that most wouldn’t think of. As a lifelong dog owner, I often share my best tips for living with and training dogs. I worked in Higher Ed over 10 years before switching gears to pursue activities that I’m truly passionate about. I’ve worked at a vet, in a photo lab, and at a zoo — to name a few. I enjoy the outdoors via bicycle, motorcycle, Jeep, or RV. You can always find me at the corner of Good News & Fun Times as publisher of The Fun Times Guide (32 fun & helpful websites).