Light emitting diodes (LEDs) are more prevalent in lighting retrofits, especially as many companies are looking to their utilities to provide rebates. The rebates offer a large energy savings that takes reduces upfront costs.
“Utilities across the country show limited prescriptive rebate support for LED lighting,” found a report by Groom Energy and GTM research. And the number keeps growing.
In fact, four years ago, there was about $3.1 billion in total U.S. rebate dollars. And the numbers are expected to more than double in coming years, from $7.4 billion to $12.4 billion available in 2020.
There’s no coincidence that the LED market is growing as well. LEDs are one of the fastest growing light replacements to traditional fluorescent lights and offer a higher energy efficiency. It’s no wonder that the increased utility funds will help push LEDs into the commercial and industrial mainstream.
Source: Green Tech Media