US demand for high efficiency lighting is forecast to increase more than 10 percent annually to $11.7 billion in 2017, supported by technological improvements and regulatory changes designed to lower electricity used in lighting applications.
Demand for LEDs will grow the fastest of any high efficiency lighting product through 2017. Increased penetration in many residential and nonresidential building applications, as well as in the outdoor lighting market, will support advances. While the high initial price of LEDs has hindered their adoption in many traditional lighting applications, technological innovations that reduce costs and improve performance will make these products increasingly competitive.
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