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Electricity Usage in Commercial

Buildings

Cooking

0%

Computers

4%

Other

31%

Water Hea ng

2%

Electronics

7%

Refrigera on

8%

Ligh ng

22%

Space Cooling

11%

Ven la on

11%

Space Hea ng

4%

Source: Department of Energy

In the US, there is a huge replacement (retrofit) market in addition to new construction. Due to the rapid

decline in LED prices, most entities have not made the switch to LED as they are often time unaware of

the cost savings given the new product prices. While in past years, the company has focused on

missionary selling, now potential customers seem to be aware of the new shorter payback periods and

are actively seeking solutions. The LED lighting industry will continue to grow with awareness and

education as well as with the rapid decline in LED material prices, and increasing number of utility and

state incentive programs available to significantly improve a lighting retrofit s return on investment. The

company characterizes the stage of the LED industry as being in the end of the first inning, and is well

positioned for the growth that is around the corner. Investors will be able to reap this rapid growth stage

as demand ramps.

Source: US Department of Energy

Zacks Investment Research Page 7 scr.zacks.com

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