LED lamps found on the market today are achieving price points that were only expected in 2020, 2022, 2024 and 2025. These years acceleration in affordability of LED lamps from major European LED lighting manufacturers means that consumers experience very attractive payback periods of less than 1 year, if the lamps are installed in a household socket used 3 hours per day.
Concerns that LED lamps may be too heavy, too big or emit poor quality light are issues that have been by manufacturers. The report highlights that there are LED lamps available that meet the shape, size and light quality of incandescent and halogen lamps. The report also notes that consumer and professional lighting companies are switching, for example, the global retailer IKEA announced they will only sell LED lamps starting in 2016.
LED markets are evolving at warp speed internationally in terms of price and product quality. Today, some quality brand LED lamps on the European market are at price points that were only expected to be in shops in 2025, with features and characteristics that consumers care about. This new evidence should be very interesting to policymakers working on these issues.