LED panel suppliers look set to be pretty busy over the coming months - it has just been revealed that the nightly illumination of Niagara Falls will be upgraded to LEDs as part of a $4 million investment.

According to Buffalo Business First, the new state-of-the-art system will last for 25 years, use 82 per cent less power than the lights currently in operation and also need a lot less maintenance year after year.

Work on the upgrade is set to start in the spring and it's hoped that the new system will be in place by November, when the annual Niagara Falls Winter Festival of Lights takes place.

Tourism chairman for Niagara Falls Wayne Thomson described the new system as "one of the most important things we can do in terms of tourism. It will be like getting a new attraction. It will be unbelievably spectacular."

The upgrade will include over 1,800 colour combinations to really make the night show even more dramatic than it already is.

If you and your business are considering doing something similar and swapping out your traditional bulbs for LED panels, it's important that you do your research so you know just how much you'll save both in terms of energy and money.

Naturally, you'll have to make an initial outlay in order to invest in a new lighting system, but you'll find that it your LEDs start to pay for themselves in a comparatively short space of time. To find out how you can work out what your return on investment will be, read our blog post on the subject.