Light Emitting Diode or LED lighting has been in existence for many years, mainly in niche applications like small trinkets and indicator lighting. However, due to LED lighting being highly energy efficient, not to mention technologically superior over other light sources such as incandescent and fluorescent lighting, it is forecasted to reach beyond electronic applications into commercial and home LED lighting as well. In a recent report by Global Industry Analysts it is predicted that the market for fluorescent and LED lighting could climb to $97 billion by 2010. The spike in growth would be mainly from construction and industrial development industries.
As more individuals become aware of the energy efficiency of LED lighting, the price of such items as LED bulbs will decrease in price. Currently, the price of one LED bulb is substantially higher than the price of incandescent or fluorescent lighting. However, the initial price for LED bulbs would more than pay for itself in the long run. On average, one incandescent 60-watt bulb lasts 1,000 hours whereas one 2-watt LED light bulb lasts 60,000 hours. Therefore, one would need to purchase 60 incandescent bulbs for...
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