Mumbai  :  (IANS) Nearly Rs.1.4 crore have been saved by consumers due to distribution of more than one crore LED bulbs in seven months across Maharashtra, an official said on Friday.

After Public-sector Energy Efficiency Services Ltd. (EESL) distributed these Light Emitting Diode bulbs under its Domestic Efficient Lighting Programme, this led to daily energy saving of an estimated 3.50 million kWh, reduced peak load by 298 megawatt, slashed consumer bills and led to greenhouse gas emission reductions by around 2,900 tonnes of carbon dioxide.

“The people of Maharashtra have realised the need for energy efficiency and are incorporating it in their lifestyle; the crossing of milestone figure of one crore is a testimony to this,” EESL managing director Saurabh Kumar said here.

Under DELP, each LED bulb is provided at a discount of around 75 percent, helping consumers save between Rs.160-400 per annum.

Each LED bulb has a life expectancy of 25,000 hours and the bulb cost is recovered in less than a year, Kumar said.

Now the focus is on bringing down prices of seven-watt LED bulbs in retail, currently between Rs.25-300 each to ensure a sustainable market for the energy efficient, safe and non-hazardous product.

The EESL provides free replacement, including for technical faults, for three years.

Nationwide, the EESL has distributed over seven crore LED bulbs under the DELP, leading to power savings of more than 2.4 crore kWh daily. It aims to replace 77 crore incandescent bulbs across India by 2019.

The EESL is a joint venture of National Thermal Power Corporation Ltd., Power Finance Corporation, Rural Electrification Corporation and POWERGRID under the power ministry, set up to implement energy efficiency projects.

The energy efficiency market in India is estimated at 12 billion dollars.