Waverly Light and Power is replacing high-pressure sodium lights with LED bulbs as part of a citywide project, targeting to benefit the environment and economy. The effort is supported by an energy efficiency and conservation block grant from the Iowa Office of Energy Independence worth more than $270,000. With $540,000, officials will be able to replace nearly 950 of 1,500 city street and security lights. Based on energy efficiency and reduced maintenance costs, officials estimate about $521,000 will be saved over the life of the lights. It is said that about half of the streetlights are scheduled to be installed this year. The remaining set will be switched by early spring of 2012.