Table 1 summarizes the initial comp

Table 1 summarizes the initial component costs for the benchmark fluorescent alternative and the linear LED options, which vary based on equipment cost and installation time but are the same regardless of the annual operating hours. As shown, the initial capital costs are higher for any of the LED options than for the fluorescent option. Table 2 summarizes maintenance costs, which vary based on the equipment cost and annual operating hours, but not based on the initial installation time. That is, maintenance costs include the annualized lamp and ballast cost for fluorescent, or the annualized LED system cost, with a 10-minute labor time spot-replacement cost for each fluorescent lamp, fluorescent ballast, or LED system change. At higher LED equipment prices ($80 and $120 per two-lamp troffer), the LEDs exhibited present value maintenance costs ranging from roughly 45% to 109% higher than the fluorescent. However, at $40 per troffer, the linear LED maintenance costs are equivalent or lower, thanks to the longer lifetime of the LED systems.