The street light market is undergoing a rapid transition from conventional technologies, such as high pressure sodium, to LED lights. Although high pressure sodium lights remain the biggest sellers today, some companies are already planning to discontinue their non-LED product lines. According to a recent report from Navigant Research, the installed base of LEDs in street lighting worldwide is expected to grow from 13.2 million in 2014 to more than 116 million in 2023.
"City residents appreciate the improved nighttime visibility provided by the whiter light of LED street lights, while city managers enjoy the cost savings that come from the reduction in both energy consumption and maintenance costs provided by LEDs," said Jesse Foote, senior research analyst with Navigant Research. "LED prices have come down to the point where payback periods are becoming attractive for cities, with or without government subsidies."
Despite the reduction in costs, significant obstacles to LED adoption remain. For investor-owned utilities, the benefits of a lighting upgrade are less straightforward. As those utilities begin to change their thinking, another wave of LED street light adoption is expected in the coming years, the firm said.
