LED Lighting Prices Fall, Accelerating Outdoor Lighting Uses

September 2, 2014



A report by Navigant Research called “Outdoor and Parking Lot Lighting Systems” states that as the prices of LEDs fall, the business case for replacing fluorescent, high-pressure sodium and metal halide lamps with LED lighting in outdoor or parking lot systems is becoming much more compelling.



The report forecasts that worldwide revenue from LED lighting for applications such as outdoor and parking lots will rise from $921 million annually in 2014 to $1.4 billion in 2021.



Over the 10 year forecast period, global shipments of outdoor lighting bulbs will grow at a compound annual growth rate of 6.2 percent, rising from 9 million units in 2014 to 15 million units in 2023. LEDs lead the market, which will account for almost 50 percent of unit shipment in 2014, according the report.



As the prices of LED lighting falls, the business case for replacing lamps with LED bulbs in outdoor or parking lot systems is becoming much more compelling.



Source: Energy Manager Today

What Our Clients are Saying

  • “Since the installation we cannot say enough great things about [the] company. Not only were installers professional and efficient, but there was no interference with our day to day production during installation. We immediately have noticed a savings in our energy bills.”
    -Justin Kelly, Tompkins Industries Inc.
    Learn More
  • “Worldwide Energy was very professional through the whole process. They handled everything from start to finish. I would highly recommend Worldwide Energy to anyone looking to improve their lighting and control utility costs. They take care of everything, it’s easy.”
    -Shawn Wakeman, Frank Ancona Honda
    Learn More
  • “Our project was completed in a timely manner with excellent results. All changes requested were completed and the crew was willing to do whatever it took to make us happy.”
    -Bill Keefer, Westlake Ace Hardware
    Learn More
  • “After considering several companies, we selected Worldwide Energy to do our lighting retrofit, primarily because their proposal was total turnkey and provided the most complete level of service.”
    -Mike Gonnerman, ROM Corporation
    Learn More
Ⓒ 2022 Worldwide Energy

Stay up to date with us

apartmentuserscrossmenucheckmark-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram