The U.S. Department of Energy's Municipal Solid-State Street Lighting Consortium has released an economic cost-benefit analysis tool to help cities, utilities, and other organizations estimate the costs and impacts of switching to street lighting that uses light-emitting diodes (LEDs).

The Excel-based Retrofit Financial Analysis Tool was developed in collaboration with the Clinton Climate Initiative. Users input data on the relevant variables for their particular application – such as the incumbent technology, quantities, phase-in period, prevailing electricity and labor rates, sales tax, installation cost, loan interest rate, and rebates – to get a detailed analysis that includes annualized energy-cost savings, maintenance savings, greenhouse gas reductions, and simple payback.

This information is useful not only for planning and budgeting purposes, but also in applying for financing. In a market where the cost of LED street lighting has dropped more than 25 percent in the past year alone, it can help cities accurately evaluate costs in today's dollars.

Download the tool or view a “how-to” instructional video.