LED Roadway Lighting is emerging as a global leader in LED-based street and highway lighting technologies. In only 16 months of production, we've shipped our products to 225 locations in 10 countries.
The conversion of roadway lights to LED technology is a $250 billion market globally. To capture a portion of this global market, we must show leadership and deploy our technologies at home, particularly in cases where the technology can provide a substantial economic and environmental impact with easily quantifiable results.
Incentives for mass clean technology adoption in Canada will drive overall costing and pricing down for Canadian manufacturers, which eventually will allow us to become more competitive in the global export of our technology. This will also be a significant driver of job creation in the clean tech manufacturing sector.
Within Canada and other industrialized nations, street lighting costs typically account for 30% to 80% of municipal energy budgets. In an assessment conducted by staff of the Province of Nova Scotia, it was determined that Nova Scotia municipalities could realize a net savings of $285 million by adopting our Satellite series roadway light.
We estimate that the impact of converting Canada's 4.3 million street lights over to LED Roadway Lighting technology would result in an $8.5 billion savings and could create upward of 7,500 jobs. There are significant environmental benefits to a Canadian conversion program, which we have distributed on a sheet.
Your support would allow Canadian clean technology companies to grow locally, improve our global competitiveness, provide us access to export markets, and promote the reduction of Canada's carbon and resource footprint. In the case of LED Roadway Lighting, this support would also translate to substantial financial savings for municipal, provincial, and federal governments.