The city government has signed an MOU with an LED light supplier and suppliers’ association to replace all the lightings in the underground parking facilities of large buildings in Seoul by 2014. LED lights save up to 50% more energy compared to traditional lights. According to the agreement, every light purchase will accumulate 1 percent of the purchase amount for the donation of energy to the underprivileged inhabitants of the city.
Seoul City is also assisting the purchase and installation expenses of LEDs at 40% lowered than regular market price. For residents who cannot even afford to pay 40%-discounted expenses, Seoul City decided to offer them a first free-installation after electricity-saved fee collection program.
The “First Free-Installation After Electricity-Saved Fee Collection Program” is: First, Seoul City assists the purchase and installation expenses of LED lightings free of charge for residents, and collect electricity bills at regular rate for several months, not at a discounted LED lighting rate, in order to retrieve the cost of the program.
Seoul City will implement this program first to 1.2 million apartments and 800,000 business buildings and then expand to hospitals and convenience stores in the future.
It is expected that the replacement of two million lights in underground parking lots by 2014 will save up to 32.7 billion won on energy bills every year (with a saving of 297,000Mwh of energy). Moreover, the emission of toxic matter such as mercury and the waste of lighting fixtures can be reduced by up to one fifth, further contributing to environmental protection.