LED lights have dropped in price, which means consumers can save about $69 or more a year for a three-bedroom house on a low-end estimate, according to an article in Stuff.co.
"Up until the last six months they were a little bit on the expensive side and a little on the dull side, and a little on the big side," Paul Crewther, owner of LED World in Auckland, New Zealand, told Stuff.co. "The manufacturers have made them smaller, brighter and cheaper."
Comparisons on savings differ, but LED World estimates that over a 10-year period, a 100-watt equivalent LED bulb will cost $74.09 to run compared to $493.20 for a regular incandescent bulb and $145.23 for a fluorescent energy-saving bulb. An LED could cost up to $36, which is on the high side of an estimate.
The advantage of LED’s is the projected 60,000 hours lifespan as opposed to the incandescent bulb's 1,500 hours. They also emit little heat. Until recently, however, bulb price has been a barrier for money-conscious consumers.