Dec 3, 2008 9:34 pm US/Central
Stretch Your Dollar: Save Money On Electric Bill
CHICAGO (CBS) ―
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LED lights cost more money upfront, but they can save you money in the long run because they are much more energy efficient.
CBS
It's tough to save money on your electric bill around the holidays. But if you're willing to spend a little money upfront, you can "stretch your dollar" in the long run.
There's something different about the Christmas tree in Daley Plaza. The city says this year it's using energy efficient lights called LEDs.
So is Sean Nixon. In fact, he's back in Target buying some more.
"They look fabulous, I looked at them last night, first snow of the season, and they looked absolutely wonderful," Nixon said. "They're a lot brighter than the incandescent bulbs so it adds a lot of pop," Nixon said.
We found out ourselves with a side-by-side tree test with ComEd's energy doctor Timothy Melloch. He says the LED tree is not only brighter, but it uses far less energy.
"What you see is this tree is drawing 92 watts of energy right now," Melloch said. "The tree with the LEDs on it is drawing 16 watts. We're using 80 to 85 percent less energy right now on the LED tree."
However, LED lights are more expensive. For example, this box costs $8. The regular lights cost about half that. But that doesn't bother Sean Nixon.
"I would rather pay once and then save on my energy bill and be able to use them for five, six, seven years," Nixon said.
ComEd says the LED lights may take five years to pay for themselves, but they will last seven times longer than traditional lights.
A typical family will spend $10 to light their tree this season. But with LED's the cost goes down to just $1.
The city will save $7,000 this year using LED lights on the tree in Daley Center.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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