Many people find that in terms of the per-item cost, LEDs are more expensive than almost all other comparable, commercially available options. LED lights for public use in homes, offices, and places of business are a relatively new invention. CFLs became commercially available to consumers in the mid 1980s, while LED lighting wasn’t widely available until the early to mid 2000s. LED technology such as the LED strip is evolving rapidly to meet demand and many companies are competing for a development advantage. But since the technology is still young and the manufacturing process hasn’t become as optimized for cost-efficiency as it will be once the market grows, LED companies have to put up a significant investment to enter the market. So just like any other technological invention – think color TVs, microwave ovens, CD players, MP3 players, smart phones – as the quality continues to improve and popularity increases, the price will continue to fall.

But it is important to note that because LEDs last five times longer than CFLs and 10 times longer than incandescent bulbs, and use between 20 and 80 percent as much electricity, they are much less expensive to power. In the period of a few years, savings on bills and replacement costs will cover the initial extra expense.