Yes, the economy may be in a downturn, but think of the money-saving opportunities when times are lean. It’s during times of scarce energy and tight finances that people begin to look for ways to cut costs. The upshot of this not-so-positive time is that the American drive for financial savings results in more energy efficient living.

Consider vehicle sales. With each passing week, big vehicle sales decrease as more and more people look for fuel-efficient economy cars for their families. Hummer’s sunny days are numbered, especially amidst rumors of Ford selling it off or shutting it down altogether.

Likewise with energy-guzzling outdoor lighting. People are starting to see the wisdom of upgrading their energy-hogging incandescent bulbs with more efficient options.

Some companies are also eager to take advantage of energy-conscious business opportunities while the market is hot. Take Brian McKenna at Light Source Lighting in Plano. Instead of hunkering down and riding out financially challenging times with his one-shop business, he and his wife, Christina, decided to expand their company by opening a new location. Knowing how much energy is used by the average US family for lighting (22 percent of the total electricity bill!), homeowners, he says, are paying for more efficient fixtures and bulbs. There’s plenty of chance to enjoy business success.

Increasingly, people are reaching for CFL and LED bulbs in an effort to cut their overall electric bills, realizing that even with the high upfront costs, these energy-savers are well worth it. CFLs cost between $2 and $10 and can save the average consumer $50 over the lifetime of the bulb. LEDs result in even higher savings.

Developing an outdoor space that is not only beautiful, but energy efficient is no longer a challenge. Whereas in years gone by, people often felt they had to forego adding lighting to their landscapes for fear of increased electricity costs, today there are many options that make outdoor lighting a possibility for most homeowners, regardless of budget.

As Libby Langdon said in a recent spot on The Early Show, LEDs are the next big thing in energy efficient lighting. They’ve got so much going for them (as we here already know), but it doesn’t hurt to reiterate the benefits:

The city of Raleigh, NC has taken an interesting approach to reducing energy demands related to outdoor lighting. Recognizing that they spend a full 30 percent of their energy budget on running the 33,000 outdoor lights that amounts to a $4.2 million annual bill, they see tremendous potential for using LED (light emitting diodes) throughout the city.