With the ban on incandescent light bulbs set to take effect in 2012, many Americans are making the switch to energy-saving light bulbs. LED bulbs are becoming increasingly popular in America, Canada, the EU and Australia in response to traditional bulb bans. Now, Lemnis Lighting is trying to make LED lights a household staple around the globe.

Lemnis is getting a little help in accomplishing this goal thanks to a $37.5 million donation from an unnamed African investor, reports GreenTechMedia.com. While the donor remains anonymous, it's evident that the funds are paving the way for Lemnis to move their LED products into the African market.

The company produces a screw-in LED bulb that easily replaces a residential incandescent light bulb for a fraction of the energy costs. The LED Pharox bulb uses 6 watts to produce the same amount of light as a 60-watt traditional light.

The upfront costs of LED bulbs are greater than other bulbs at close to $40 each. Still, each bulb saves $12 a year in power costs, and LED lights require fewer replacements so the investment quickly pays for itself. Moreover, Lemnis is considering piloting a lease program to help homeowners go green without the initial financial burden.

Lemnis Lighting, Philips and other industry leaders who are trying to help reduce the costs of LED bulbs will likely help LED lights reach their predicted market potential. A report from Strategies Unlimited says that the LED market will hit $1.6 billion by 2012.