PHILADELPHIA (AP) — Two years after it began phasing out incandescent bulbs, Swedish retailer Ikea announced Monday it is taking another step and planning to sell only energy-efficient LED lighting by 2016.

Ikea believes the shift to the longer-lasting bulbs will help set an environmentally friendly example in the industry and also save the company about $10 million to $20 million a year, or 10 percent, in lighting costs at its 300 stores around the globe, said Steve Howard, the company’s chief sustainability officer.