But what if you could also entice a prospective buyer with 10% off his or her electricity bills?
The average monthly electricity bill in the USA in 2013 was over $100, and lighting represents 10 to 14% of that bill. If a house were full of incandescent bulbs and you replaced them all with LED bulbs, you could slash the lighting bill by around 80%, saving 8-11% on the overall electricity bill.
That's a value of $120+ each year in the average American home, and obviously it goes up with larger homes. One source says that the average home has 47 light bulbs, and with Lighting Supply, replacing those bulbs with quality LEDs could be done for under $400.
Let's talk about the best approach.
Keeping It Simple
A Note on Name Brands
This is why we've chosen to carry known brands like TCP, Philips, and GE, where quality and consistency matter to the reputation of the brand. And on our "LEDs for the Home" page, we've selected bulbs that compete on price with many of the unknown brands.
LED lights come in a variety of color temperatures, but most popularly in warm / soft white (around 2700K) and daylight (around 5000K). The latter are very white, even slightly blue; some people like this, but most will want the warmer colors, so we recommend sticking with 2700K in most instances.
Optionally, you can look to slightly whiter colors (3000K to 3500K) for areas that require more utility, like kitchens, laundry rooms, or garages.
A note from experience, though: even 2700K LEDs seem to run a little whiter than incandescent bulbs. And while incandescents increasingly turn orange when dimming, LEDs may retain their initial color when dimmed.
Name brand LEDs will generally provide you with a list of tested dimmers so you know what you can rely on.
CRI and Why It Matters
CRI, however, is not the full story around how someone experiences the light from a bulb. The overall spectral distribution shows where a bulb excels in displaying certain colors, and the CFL bulbs that many people were unhappy with tended to have a much more "spiky" distribution than LEDs, which tend to have a smoother curve, or a smoother rendering of all colors. You'll note in this example that an incandescent may better display reds while an LED may better display blues and greens.
Of course the spectrum below will vary from bulb to bulb, and a high CRI LED bulb may boast an even more impressive curve than the one shown below for LED.
LED Downlight Kits
These kits are almost as easy to install as light bulbs with a corded base that twists into a standard socket. After removing the original trim, screw in the new fixture's base and then slide the fixture into the can. This provides you with a lighted lens and trim all in one without the gap into the ceiling that you can normally see around a bulb.
LED downlight kits are certainly more expensive than replacement bulbs, but in premium homes or special areas of a home, they may be worth the additional cost to create a beautiful new look.
We hope this overview helps you to see how easy to increase the value in your home with simple changes to lighting. Even if you're not selling a home right now, the switch to LEDs can pay for itself within a couple years and then become money in your pocket going forward, with LEDs (at 3 hours of use per day) expected to last 20+ years.