The main factor that determines how much LEDs impact your electric bill is time. Energy Star-rated LEDs are approximately 75% more energy efficient than incandescent bulbs. For example, while a 60-watt incandescent bulb uses 60 watts, a comparable LED bulb only uses around 10 to 15 watts. This difference becomes significant when you consider the usage over a three-hour period per day. It means that a single incandescent bulb would consume 65,700 watts per year, compared to approximately 16,425 watts per year for an LED bulb (using the example of a 15-watt LED bulb).

Considering the estimated monthly cost of $0.52 for an incandescent bulb and $0.09 for an LED bulb, the yearly cost per incandescent bulb comes to around $6.22, while for an LED bulb, it is approximately $1.04. It’s important to note that these calculations are based on the usage of a single bulb. When you take into account multiple bulbs in a house, the savings can be quite considerable.

So, in conclusion, LED bulbs will indeed save you a significant amount on your electric bill, despite their higher initial cost. However, it is worth mentioning that the price difference between LED and incandescent bulbs may not be as significant nowadays, as LED bulbs can often be found at comparable prices. Additionally, LEDs have a significantly longer lifespan, often lasting up to 30 times longer than incandescent bulbs. This also means that even if LED bulbs are slightly more expensive, you won’t need to replace them as frequently.