According to a UN-led study published at the Rio+20 summit, efficient lighting would save US$110 billion (RM330 billion) a year worldwide.

Based on the figures coming from an assessment of 150 countries, the UN Environment Program (UNEP) and the Global Environment Facility, in conjunction with the International Energy Agency (IEA) have released the report.

According to the report, yearly savings in phasing out incandescent bulbs and making other simple changes would amount to around five percent of global electricity consumption. It would reduce worldwide output of CO2 by six per cent — the equivalent of more than 450 coal-fired power plants or more than 122 million mid-sized cars.

Fourteen countries are to be enrolled in a pilot project to develop national plans to phase in fluorescent bulbs or LED lamps.