Solid state lighting forms a significant part of global efforts to reduce energy consumption and greenhouse gas emissions.According to a market research report, published by MarketsandMarkets, the solid state lighting market size is projected to reach $22.2billion by 2020, growing at a CAGR of 7.31% from 2015 to 2020.
According to the report: 'Lighting the Clean Revolution: The rise of LED street lighting and what it means for cities', lighting is responsible for 19% of global electricity use and around 6% of global greenhouse gas emissions. Doubling lighting efficiency globally through LEDs would have a climate impact equivalent to eliminating half the emissions of all electricity and heat production in the EU.In the UK alone, cutting the energy used by lighting by 40% would save £6.5bn in annual energy costs, and reduce energy demand equivalent to 33 mid-size power stations.
Chris Bailey, Plessey's finance director, said: "We are very proud of our local heritage and the RGF funding will contribute to our expansion plans for the Plymouth facility. The expansion will bring additional technical jobs to the site, and strengthen our long term future by providing the base for new lighting technologies and products to be manufactured in the UK."
Plessey says it will increase its manufacturing capacity from over 100m square millimetres of Gallium Nitride material per year to more than 3bn square millimetres. The facility modifications will take place in 2015, with additional manufacturing tools and supporting equipment coming on stream from 2015 through to 2017.
