The report also estimates that the Commission's proposal to delay the policy measure by 2 years will result in 33 TWh of lost electricity savings over a period from 2016 through 2026.
The report finds price points in today's market from quality brands that were only expected in 2025. For 50% of the products, the current price level is 5~11 years ahead of expert forecasts. This on-going reduction in LED lamp prices will enable mass market penetration. European consumers then can experience reductions in their energy bills while enjoying beautiful, high-quality light from LED lamps.
The study notes that the LED market has started to be a mass market in Europe, and this will continue to develop between now and Sept. 2016, when the policy measure is currently scheduled to take effect. By keeping the 2016 date, Europe will accelerate innovation in LED lighting and we can expect faster price reductions, benefiting consumers sooner than if the phase-out was delayed.