The project, which is estimated at NIS 12 million (roughly $3.2 million) will see all 13,000 city lights replaced with energy-efficient light bulbs.
The project will be partially funded by the State, as part of a nationwide municipal energy-saving project.
Maalot stands to save NIS 2.4 million a year ($640,000) in power expenditures and is likely to recover its investment within three years.
According to calculations by the City and the Environmental Protection Ministry, Maalot will be able to save NIS 15 million ($4.03 million).
While LED lights consume 90% less energy than incandescent light bulbs, they are also considerably more expensive. The cost of LED lights for domestic use ranges between dozens of shekels to hundreds, but when it comes to street lights, a single LED light can cost as much as NIS 2,000 ($535).
"Changing the city lights is part of a broader energy-efficiency project the city has undertaken," City official Ofer Burstein told Ynet.
The city, he added, will make sure to use made-in-Israel LED lights only.
In 2012, Israel joined other Western nations and passed a law banning the sale of the classic 60 and 100-Watt incandescent light bulbs for domestic use.