which gulps a lot of money to new LED solutions

A research by Philips has shown that Africa would save up to N1.63 trillion ($10 billion) in energy costs annually, more than 50 million tonnes of carbon and the equivalent output of 35 power stations, if the continent were to switch its existing lighting, currently run on diesel and fuel which gulps a lot of money to new LED solutions, even as these figures only include on-grid lighting where electricity is present.

According to Nick Kelso, senior communications manager, LED solutions when combined with the latest innovations in battery and solar developments provide practical and sustainable light for some 600 million Africans who currently live without electricity. As a result, Philips sees the need for new LED solutions in Africa, and Nigeria is considered as a massive market waiting to be first tapped.

Philips predicts that LED will share 75 per cent in the global lighting market (value) in 2020, a figure derived from both current sales data, including thoughts around future trends.