According to the “Energy Conservation” article in the course pack, will consumers use more or less...

According to the “Energy Conservation” article in the course pack, will consumers use more or less electricity on lighting when energy efficiency increases with the growth of LED bulbs? Why?

Expert Solution

Let us consider the market for India- (I don’t know the article from your textbook. You may attach the article and post the question again.)

India, being the second most populous country in the world and fifth major electricity consumer, has been experiencing an ever-widening demand-supply gap in electricity. Consequently, the market for energy-efficient products such as LED lights is bound to grow. All the survey participants felt that the moderately-growing lighting industry will now move at a faster pace, as the government is encouraging the use of LED lights in a big way. Other drivers are the Smart Cities project, and the increasing demand for a smart, connected lifestyle and energy-efficiency measures.
According to a report, the LED lighting market in India is projected to register a compound Aggregate growth rate (CAGR) of over 30 per cent during 2016-2021. The Electric Lamp and Component Manufacturers Association of India shares that the LED market in India is expected to grow to ₹ 216 billion by 2020. This leap will result in the LED market accounting for about 60 per cent of India’s total lighting industry in 2020.
The key factors that are expected to boost the market include falling LED prices coupled with favorable government initiatives that provide LED lights at a subsidized cost and promote LED street lighting projects. Moreover, rising consumer awareness about the cost-effectiveness, enhanced life, better efficiency and inherent eco-friendly nature of LED lights will continue to drive volume sales from the industrial, residential and commercial sectors.

Considering the facts and the scenario, rational consumers who think about the environment would start using less electricity. Now that companies have started taking initiative to save electricity by producing LEDs instead of CFLs, the people should also think about the environment and use the electricity efficiently.

Rahul Sunny answered 1 year ago

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