So how much money can be saved using LED bulbs? As always, it depends on how you use lights. You should know that the cost of electrical energy depends on:
Energy = Power × Time will give you the energy use in joules or kilowatt-hours (kWh).
Let's look at a typical modern kitchen as an example, with eight 50 W halogen lamps used for a time roughly averaged over a year:
[Cost based on 1 kWh of electrical energy costing 14p. This price is very likely to rise into the future.]
So with a daily average use of 2 hours only for 8 lamps, the total energy saving is considerable and the associated cost saving very significant.