LED Light Bulb Prices Hit New Lows as More Energy-Efficient Models Arrive
*Last Modified: June 6th, 2014
Shopping at Home Depot this week, I was pleased to discover on Aisle 36 that both Philips and Creejust slashed several LED light bulb prices by more than 20 percent, with competing 60-watt indoor replacement bulbs — consuming only about 10 watts each — now going for under $10.
It's about time these top-rated suppliers began offering their more durable, more efficient and longer-lasting household light sources at more affordable prices. Until now, only lower watt-equivalent indoor options were available in the single digits — and these are generally lower-rated products with inferior light quality and questionable lifetime claims that my wife simply cannot tolerate.
She also doesn't like to spend more than $10 on a single soft-white light bulb either, even if it is going to last potentially decades longer than traditional bulbs and save a couple hundred dollars on energy costs over the years.
Neither, frankly, do I.
But $9.97 for the Cree 60-watt equivalent dimmable LED light bulb — my personal favorite in this class because of its light quality and similar appearance to a traditional bulb — or the uniquely shaped Philips SlimStyle 60 watt equivalent can still be a tough sell based strictly on sticker shock.
Brighter LED bulbs can cost double or triple these 60 W replacements. Cree's new 100-watt equivalent bulb — announced this week — retails at a "breakthrough price of just $19.97," according to the North Carolina-based manufacturer, which claims it is the "lowest-priced 100-watt LED replacement bulb."
My local Home Depot didn't yet have this new product in stock, which uses just 18 watts to produce a brightness of 1,600 lumens. The most comparable bulb is the Philips 100-watt equivalent, which is one of the most aesthetically pleasing LED household bulbs on the market and gives off a nice, warm light. The retail price recently was cut by $8 to $24.97. Important to note, however, is that Philips has the Energy Star rating that qualifies for rebates, while Cree does not yet have the rating.
But there is other competition on Aisle 36: Compact fluorescent light bulbs (CFLs). These cost less and save money at a faster rate than LEDs.
According to Consumer Reports, CFLs also use about 75 percent less energy than incandescent bulbs, only slightly less than LEDs. CFL's also disperse light in all directions, which LEDs are not very good at. LEDs, on the other hand, are mostly dimmable, while CFLs mostly are not dimmable — which is a big factor in my household.
Other points in LEDs' favor is the fact that CFLs contain small amounts of mercury and have a much shorter lifespan, at least theoretically, than LEDs.
Lower prices for LED light bulbs would make the decision a lot easier.
But a lot of progress is being made, with prices continuing to fall steadily over the past year. According to market researchers at IHS Inc., average global LED light bulb retail pricesdropped by almost 12 percent between February 2013 and February 2014 to $23.80. That's still not cheap.
The reduced prices for 60-watt equivalent Philips and Cree LED bulbs this week to under $10 come at a good time — just a few months after the United States banned those inefficient old 40 and 60 watt incandescent light bulbs, as mandated by the Energy Independence and Security Act of 2007, which already phased out 100-watt incandescent bulbs in 2012.
Lower prices, more choices and better products are expected to help LED's gain further market traction in coming years. IHS forecasts the global market for general lighting LEDs to grow to 3.6 billion units shipped in 2020 from 495 million units in 2013, with penetration rising from just 3 percent of all light bulbs to more than 30 percent.
Better make room on Aisle 36.
LED light photo courtesy of Philips.
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