| The main advantage of 277V. lighting circuits (assuming 277V is | readily available) is that you have less voltage drop, the means to do | longer runs (from panelboard to fixture), and more fixtures can be | attached per circuit breaker (vs. 120V lighting circuits). In the | long run, if done properly, this leads to economies of scale and | allows for a cheaper, more economical, and efficient installation. | | The 277V. circuits use less current (for equal amounts of light on | the equivalent 120V circuits) and you may be able to get away with | installing a smaller lighting panelboard than otherwise might be | necessary.
To clarify, you could have more lights on the same circuit, reducing the number of circuits and thus the number of slots in the panel. The higher voltage panels are slightly larger for the same number of circuits when compared to the 3/4 inch Square-D QO/NQOD and Cutler-Hammer CH series if you went with 208/120 for everything. For 480/277 you would use panels like Square-D NF or Cutler-Hammer PRL2.