Cost savings of using LED lights

LED lights are more expensive than fluorescent lights, but are there any cost savings in the long run? How many years it takes before we spend less using LED than using fluorescent? Let's do a spreadsheet analysis to find out!

Assumptions:
Cost of LED light 24.6 W = $35
Cost of fluorescent light 32 W = $6.80 (Sheng Shiong)
Electricity tariff = 0.2233 per kWh
Days in a month = 31
Hours light is switched on per day = 6
Both the LED and fluorescent light does not spoil in the time period we are analyzing.

So there you have it! In the spreadsheet below, we showed that the initial cost of using LED is higher than fluorescent. However, after 92 months (7.7 years), the total cost of using LED will be less than the total cost of using fluorescent.

This is analysis of using LED purely from an economic standpoint, and it is up to you to decide whether LED lights make sense for you or not :)

	Cost of LED light 24.6W	Cost of Fluorescent 32W (Sheng Shiong)
0 months	35	6.8000
1	36.02173148	8.1290816
2	37.04346296	9.4581632
3	38.06519444	10.7872448
4	39.08692592	12.1163264
5	40.1086574	13.445408
6	41.13038888	14.7744896
7	42.15212036	16.1035712
8	43.17385184	17.4326528
9	44.19558332	18.7617344
10	45.2173148	20.090816
11	46.23904628	21.4198976
12	47.26077776	22.7489792
13	48.28250924	24.0780608
14	49.30424072	25.4071424
15	50.3259722	26.736224
16	51.34770368	28.0653056
17	52.36943516	29.3943872
18	53.39116664	30.7234688
19	54.41289812	32.0525504
20	55.4346296	33.381632
21	56.45636108	34.7107136
22	57.47809256	36.0397952
23	58.49982404	37.3688768
24	59.52155552	38.6979584
25	60.543287	40.02704
26	61.56501848	41.3561216
27	62.58674996	42.6852032
28	63.60848144	44.0142848
29	64.63021292	45.3433664
30	65.6519444	46.672448
31	66.67367588	48.0015296
32	67.69540736	49.3306112
33	68.71713884	50.6596928
34	69.73887032	51.9887744
35	70.7606018	53.317856
36	71.78233328	54.6469376
37	72.80406476	55.9760192
38	73.82579624	57.3051008
39	74.84752772	58.6341824
40	75.8692592	59.963264
41	76.89099068	61.2923456
42	77.91272216	62.6214272
43	78.93445364	63.9505088
44	79.95618512	65.2795904
45	80.9779166	66.608672
46	81.99964808	67.9377536
47	83.02137956	69.2668352
48	84.04311104	70.5959168
49	85.06484252	71.9249984
50	86.086574	73.25408
51	87.10830548	74.5831616
52	88.13003696	75.9122432
53	89.15176844	77.2413248
54	90.17349992	78.5704064
55	91.1952314	79.899488
56	92.21696288	81.2285696
57	93.23869436	82.5576512
58	94.26042584	83.8867328
59	95.28215732	85.2158144
60	96.3038888	86.544896
61	97.32562028	87.8739776
62	98.34735176	89.2030592
63	99.36908324	90.5321408
64	100.3908147	91.8612224
65	101.4125462	93.190304
66	102.4342777	94.5193856
67	103.4560092	95.8484672
68	104.4777406	97.1775488
69	105.4994721	98.5066304
70	106.5212036	99.835712
71	107.5429351	101.1647936
72	108.5646666	102.4938752
73	109.586398	103.8229568
74	110.6081295	105.1520384
75	111.629861	106.48112
76	112.6515925	107.8102016
77	113.673324	109.1392832
78	114.6950554	110.4683648
79	115.7167869	111.7974464
80	116.7385184	113.126528
81	117.7602499	114.4556096
82	118.7819814	115.7846912
83	119.8037128	117.1137728
84	120.8254443	118.4428544
85	121.8471758	119.771936
86	122.8689073	121.1010176
87	123.8906388	122.4300992
88	124.9123702	123.7591808
89	125.9341017	125.0882624
90	126.9558332	126.417344
91	127.9775647	127.7464256
92	128.9992962	129.0755072
93	130.0210276	130.4045888
94	131.0427591	131.7336704
95	132.0644906	133.062752
96	133.0862221	134.3918336
97	134.1079536	135.7209152
98	135.129685	137.0499968
99	136.1514165	138.3790784
100	137.173148	139.70816