If you think I am a penny-pincher because I love to keep old PCs alive and use software that costs $0, check out my wife. We just spent hours changing pot-lights from flourescent (23w) to LED to save 11 watts each and about 2h of work every 3 years, 10h of labour altogether. The LED lamps cost $65 for us early adopters compared to about $6 (five times during the life of one LED lamp) for the flourescent bulbs. Here’s how I see the project:
Energy savings + labour savings – capital cost difference = 35kh x 11w x $0.10 + $20 – $35 = ~$20 for each of 16 pot-lights.
OTOH, it keeps the little woman happy and I won’t have to fiddle with ladder and furniture for 14 years or so… I could well be dead and miss the adventure. BTW, the ceiling is 12 ft. so we need a really tall ladder and it it barely rated to carry my weight ;-). It was an adventure because no arguments broke out even though she did not seem to know CCW from CW for turning a screw. She did drop a screwdriver on me once but I managed to catch it neatly.
The lamps are great technology which will come down in price by the next time they need to be changed. We replaced 75W incandescent three years ago with 23W flourescent and now with 12W LED.