The grow light market is valued at around $1-4 billion a year. The majority of the grow lights sold are of the high pressure sodium variety. However, they are very energy intensive. This is where LED grow lights come in. For the agricultural and hydroponics industries LED grow lights can yield equivalent yields as HPS while using two thirds of the electricity. Although currently LED grow lights are significantly more expensive within four years their price will be on par with HPS grow lights.