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Producing electricity costs about $60 billion a year in the US. The cost of electrical energy should not be measured in dollars alone. There are also environmental costs like the cost of carbon dioxide emissions associated with electricity production. Approximately 20% of electricity is used for lighting.
Solid-state lighting (SSL) has the potential to revolutionize the lighting industry. SSL refers to a type of lighting that utilizes light-emitting diodes (LEDs), organic light-emitting diodes or polymer light-emitting diodes as sources of illumination rather than electrical filaments or gas. Solid-state lighting is increasingly used in a variety of lighting applications because it offers many benefits including, long life, energy savings, better quality light output, intrinsically safe, smaller flexible light fixtures and durability.
LEDs—commonly used in signs, signals and displays—are rapidly evolving to provide light sources for general illumination. According to Strategies Unlimited, the LED market reached $4.2 billion in 2006 and is set to move away from its current low-growth state in the next 1-3 years, as new markets begin to emerge. Growth in the high-brightness LED market in the next 3-5 years will be driven by lighting, display backlighting and automotive applications. The overall market will grow about 17% annually over the next five years and will reach $9 billion by 2011. Cell phones and other handheld devices dominate the LED market, but new uses are catching on.
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