One of the most difficult considerations when you decide to implement energy efficient light bulbs in your home is price. Since each energy efficient light bulb will cost you about $5 each, it is clever to stop for a moment and ask yourself what your Return On Revenue (ROI) will be.
As I was visiting the GE Lighting website (which I have no affiliation with), I found a very useful tool for calculating cost savings if you install energy saving light bulbs. This calculator assumes that you use a light for 4-hours a day and a electricity rate of 10c/kWh. It then show you how much money you will save by installing energy saving light bulbs.
By only swapping out 4 100-Watt standard light bulbs with 4 x 26-Watt energy efficient light bulbs, it is calculated that indeed over 1 year you will be saving $42.22. The reason I used 4 x 100-Watt bulbs as an example is only because that is how many we have in our TV room.
In my house I found 40 x 100-Watt bulbs, 25 x 60-Watt bulbs and 4-track bulbs. According to the GE savings calculator I will have an annual electricity savings of $625 if I will replace all my standard bulbs with energy saving light bulbs. That being said, to go and buy 65 energy saving light bulbs for this project, it will cost me $325.
To establish how much of our investment we will get back in the first year: ROI= [(Payback - Investment)/Investment)]*100 [(625-325) / 625)] * 100 48%
During the first year we will see a return on our investment of 48%. As I was looking at these numbers it became evident that it will be smart to upgrade to energy efficient light bulbs, even if in the beginning it will cost us some money.
Cutting cost is in the numbers. Changing one 100-Watt bulb to a smart energy efficient bulb, will save you $10/year. The average home has between 50-100 bulbs. Considering the increase of energy rates, this would indeed be one of the smartest things to you for your family.
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