Well, richer at any rate, or put another way, if you start installing LED GU10 bulbs to replace any regular halogen GU10 lamps you will save a lot of money (which works out much the same as making a lot of money – it’s still more money than you would otherwise have). Lets explain…
If your home or business looks like most others these days, then you have dozens or more GU10 spot lights around the place. Each one of these little beasts is costing you (assuming an average use of 6 hours daily and electricity at 12.5 cents per kilowatt hour) $13.70 each year to run. That’s considerably more than the bulb itself costs to purchase and it is also coincidentally roughly what an equivalent LED spotlight will cost to buy these days.
The difference (you’re probably ahead on the math already) is that while the halogen lamp also needs replacing regularly at a cost of say $1.60, the LED version costs only that much to run for the whole year and will outlast the halogen by a factor of at least twenty five. So let’s put it together:
- After one year the halogen costs $1.60 to purchase and $13.70 to run, while the LED costs $13.70 to purchase and $1.60 to run, so both work out at $15.30 as the running total.
- After two years the halogen costs the same again, so a running total of $30.60 versus the LED which costs only an additional $1.60 to run and thus works out at $16.90 as the running total.
- Year three is more of the same trend with the “cheap” halogen lamp now having cost us $45.9o in total and the LED a mere $18.50.
- After twenty years of this, that single halogen bulb has cost $306 and the LED $45.70 (almost what the halogen racked up in three years).
Of course these are approximate figures and your mileage will almost certainly vary, but the underlying principle remains sound and in fact can only ever get skewed ever more in favor of switching to LED as the price of electricity remorselessly creeps up.
So in summary, our little example works out at a saving of 250 dollars on one little light bulb – now how many light bulbs have you really got? Dozens, hundreds, thousands – whatever it is, multiply that number by $250 and ask yourself if you can really afford to kiss that much money goodbye?
So go on, change a light bulb today and change your finances for the better.