The prices of LED bulbs and tubes are likely to come down drastically in the next two to three years. In the last few years, while the lighting efficiency (in terms of lumens a watt) has gone up 15-20 per cent year-on-year, prices of lighting products have come down more than 30 per cent, said Indranil Goswami, Director (Lighting Controls), Philips Electronics India Ltd. At present, long-lasting and branded LED lighting products are at least 15 times more expensive than conventional ones, and at least five times more expensive than comparable CFL (compact fluorescent lamps).
For example, a 13-watt LED tube which gives as much light as a conventional 40-watt tube sells between Rs 1,300 and Rs 1,500 against Rs 50 one pays for the latter. This will come down to Rs 200-250 in less than three years from now, said Goswami.
According to him, prices will drop mainly because of domestically developed technology. Technology behind the lighting is the most expensive component of the imported LED lighting products. LED chips are not made in India as of now.
Once that happens, the LED lighting market will replicate the success story of CFL in India. However, thanks to shortage of power and increasing price of electricity, even at current prices, the LED lighting market in India has gained prominence with awareness increasing about energy efficiency. Philips, a global leader in the lighting industry, recently launched a range of LED lighting concepts at its LightNEXT, its first interactive lighting experience centre in India.
Announcing the launch, Nirupam Sahay, President (Lighting Division), said the LED market in India is growing at 45 per cent.