Even the CEO of one of the world’s biggest LED makers, North Carolina-based Cree Inc, says homeowners will wait a long time to recoup their investment at today’s prices for LED lights.
“A change in lightbulbs, that’s probably a fairly long payback, we’re probably looking at 7 to 10 years depending on electricity rates,” Cree CEO Chuck Swoboda said in an interview. That’s why Cree is focusing on commercial customers for the time being, he added.
Cree’s LR6 downlight, which customers can install in their ceilings, costs about $100.
For homes and apartments, Swoboda expects the first big push towards LED lighting to come in new construction, once that market recovers.