I would like to save on my energy costs. What is the payback period?
The payback period on your investment depends on a few factors:
- burning hours
- number of incandescent light bulbs/candles
- wattage of the incandescent light bulbs
- price per kWh via your energy supplier
For example, you might have a candelabra with 12 candles, each with a 25-watt light bulb and your candelabra is on for an average of 8 hours every day.
If you replace the incandescent light bulbs with 4-watt LED candles, you will save
12*(25-4)*8 = 2016 watts a day, or around 2 kW = 730 kW per year.
In some cases, you will also be able to save on your fire insurance premium.