The average strand of Christmas lights uses incandescent bulbs that run at approximately 2.5 volts each. Usually two extra bulbs are thrown on for a nice round number, which makes them run a little dimmer, but you can expect it to be consuming approximately 120 volts, which is about the same as a standard light bulb. Depending on how many strands you use, treat each like a light you leave on, and think about how much you really want to be leaving a light on for that long for decorative purposes.
Of course, there’s a lot of other different lights you could be using, and a lot of different types (indoor or outdoor), etc. Check the citation for a handy dandy Christmas Light Cost Calculator!
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