Cannabis Business Times along with Fluence have released their 2023 State of the Cannabis Lighting Market report. Cannabis growers have been struggling for several years due to supply chain issues, product surpluses, inflation, rising energy prices, and complex regulations.
For the second year in a row, at least 70% of study participants used LEDs in vegetation and/or flowering. Last year’s research showed 74% of participants used LEDs in propagation.
62% of respondents ranked “crop quality” as the most important factor for using LEDs in cannabis production. Compared to “yield” at 16% and “energy efficiency” at 12%, the importance of quality has never been greater.
This year’s respondents cited energy costs, consistency of lighting, and lighting’s impact on plant growth as their top three challenges in 2023. And less than half of respondents reported exploring utility rebates and incentives despite these programs being offered in multiple states.
You can download the complete report here.
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