LED Prices Drop in 2012 – Good news for Indoor Growers
June 04, 2012 (PRLEAP.COM) Lifestyle NewsLED Technology has been around for several decades since it was introduced as a practical electronic component in 1962. In the last decade, led technology has advanced significantly and is now available as an alternative to incandescent and compact fluorescent lighting (CFL) technologies for various lighting needs. The big advantage of LEDs is that they use 90% less energy than incandescent bulbs. LED lights also last about 100 times as long as incandescent bulbs, and 6-7 times longer than CFLs. The one drawback to LEDs has always been their price. A typical 60 watt incandescent light bulb costs only a couple dollars, but a LED equivalent cost $40 at the beginning of 2012. LED prices have dropped significantly in the last few years and in the first few months of 2012. That same light bulb for $40 now costs $25.
The drop in LED prices is also evident in LED grow lights. G8LED, a leading manufacturer of LED grow lights for indoor gardening has taken advantage of the price drop of this technology to bring LED grow lights to the market at lower prices. In the second quarter of 2012, G8LED dropped its prices for its line of indoor grow lights, making them much more affordable for customers. Ethan G of G8LED explains "We welcome the global price drop in LED technology. We see this as an opportunity to reach many customers who were previously priced out of this leading technology. We have passed on the savings to our indoor growing customers so that we can expand our market share in this ever growing industry." G8LED now sells indoor grow lights at prices that are nearly half of what they used to be just a few years ago. For example, the G8-600 LED grow light used to retail for $1199 just 18 months ago on DormGrow.com, but is now priced at $799.
As more evidence of the advantages of LED grow lights is shared amongst the indoor growing community, this new technology is being adopted by more and more customers. Coupled with the huge price reduction this year, 2012 is poised to be a stellar year for the LED grow light market. The total lighting industry is a $100 billion worldwide market. With this significant drop in prices this year, the adoption of LEDs for indoor growing will be sudden.
DormGrow.com is the North American distributor of G8LED grow lights. DormGrow.com sells indoor growing lights for plants, partners with its affiliates and supplies grow shops and garden centers.