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Lighting company Royal Philips is urging businesses and governments to invest in energy efficient solutions. Businesses and governments are encouraged to turn to energy-efficient lighting because of the world's growing energy demands.

LED-based lighting technologies provide businesses with both light performance and control while allowing them to reduce their energy consumption by as much as 90 percent. Buildings' maintenance costs can also be greatly reduced with energy-efficient commercial lighting. The majority of buildings in the United States have not yet completed lighting systems upgrades and 85 percent of them were built before 1984, Phillips reported.

Philips believes that businesses and governments can do more to increase energy efficiency, especially with the technology of today's LED bulbs that use less energy and can last more than 20 times longer than traditional bulbs. LEDs hold the potential to save enough energy to power 16.7 million households in the United States – or 14.4 percent of the total number of households in the country.

"We believe the public and private sectors can be doing more to stimulate investments in new innovations, accelerate market penetration of sustainable technologies, and make a significant impact on our energy footprint and the environment," said Greg Sebasky, chairman of Philips North America. "In fact, Philips strongly supports the enactment into law of the Shaheen-Portman Energy Efficiency bill which would save billions of dollars for the U.S. economy by encouraging adoption of energy-efficient technologies. This bipartisan effort is a model for how business and government can work together to do what's right for the environment and business."