Over the last few years, LEDs have been on the upward trend. In fact, we can now see them starting to push out traditional technologies in a wide range of sectors, including street, decorative, and automotive lighting. Despite the milestones made, there are still various LED projects underway that are set to change the industry in a host of positive ways.
The growth of solar power and LED lighting
Less than a decade ago, the solar energy industry together with the LED technologies were on the far end of most lighting options. However, this is no longer the case as solar power and LEDs are now common items among a wide range of commercial and residential customers alike. The following are some of the reasons why:
Over the years, players in the solar industry have spent time and effort trying to bring their technologies to market whilst expanding the manufacturing barriers in order to take advantage of economies of scale. Such measures have borne fruit and the prices of products like solar panels have been slashed by as much as 75% since they were first introduced.
When it comes to LEDs, industry drivers are now doing their best to provide top-tier products for various Municipal LED lighting projects in order to compete in the lighting market. The fact however remains that LED green outdoor lighting can be quite expensive due to the technology involved in making them. The good news for consumers is that LED professionals are coming up with ways, just like solar companies, on how to reduce the cost of their products and still maintain their budget targets.
The fast expansion of the solar industry can be partly attributed to the passing of financial incentive laws at the federal, state, and regional governmental levels. They typically include tax credits offered to commercial and residential markets, both of which have led to an annual growth in solar power consumption.
California LED lighting projects have also managed to enjoy some of these incentives due to the fact they provide a green alternative to conventional sources of energy. Also, with such tax credit incentives, LED professionals are able to offset upfront costs, which allow them to bring more products to market.
With such incentives in place, we can expect to see the solar power and LED industry rise in terms of production and consumption across all sectors.
With the way things are going, both on the public and governmental level, the solar and LED industry is set to grow further, which is something most people are looking forward to.
Contact Great Basin Lighting for the latest outdoor LED technology
Great Basin Lighting is an outdoor LED lighting provider that has worked with many cities in California and Nevada. For outdoor LED lighting installation, give us a call at (925) 240-1566 (California office), (775) 333-0900 (Nevada office) or send us a message online.