Businesses are looking to save money any way they can during these tough economic times, and businesses that use refrigeration and cold storage might be able to cut costs by using LED lights in those facilities.

According to Michael Kanellos writing at Green Tech Media, companies that install LED lights into their cold storage units can save on energy costs in some pretty dramatic ways as he notes that food company Dole was able to reduce light power by 95 percent.

Kanellos says that LED lights are the perfect answer for businesses looking to not only save money, but to reduce the heat generated by traditional lighting systems.

"Cold storage - along with retail, hotels, streetlights and grocery stores - will be an early market for LED lights," writes Kanellos. "The lights from LEDs do not generate heat. Therefore, the air conditioning in cold storage units doesn't have to work as hard."

Holiday Inn is one company that's already taking advantage of the cost savings LED lights provide. According to the company, replacing existing signage with LED lights will save the company an estimated $4.4 million each year because of reduced maintenance costs and electrical savings.