Should You Invest In LED Lighting
As more people talk and learn about LED light bulbs, you may be wondering if it’s worth your while to invest in LEDs for your office. Deciding to invest in energy-efficiency is a decision that every company or business must come by on their own. If you or your business is looking for instant ways to reduce overhead or you are paying too much in utility costs every month or your current maintenance budget is burning a hole in your company’s pocket, it might be time to consider investing in LED Lighting.
What Are The Benefits
LED lighting is appealing because of the profound cost savings that can be achieved after installation.
High-quality LED lighting can deliver real capital improvement, measurable in building market value that can justify many projects. At the level of individual companies, the amount you can save will vary based on several factors, including number of fixtures, hours of usage, and the level of lighting needed. Generally speaking, though, an average 50,000 square foot commercial building spends about $45,000 a year on energy costs related to lighting each year. Imagine cutting that by up to 80%. What would that do to your bottom line?
When evaluating the benefits of energy efficient lighting, either in a new building or as an upgrade from older lighting technology, building owners consider a number of important factors.
In Turner Construction’s 2008 Green Building Market Barometer survey of 754 commercial real estate executives, a significant percentage of respondents view green buildings as having lower operating costs and higher building values, rent requirements, occupancy rates and overall return on investment. As a primary building system, lighting has a critical role to play in sustainable buildings. At first glance, “sustainable lighting” appears to be a fancy way of saying energy-efficient lighting. However, it encompasses the satisfaction of the lighting system’s design intent for the lowest life-cycle environmental impact.
So How Can You Implement These Changes
Savvy business owners are always on the lookout for ways that they can reduce their operating costs.
This includes having your accounting department consider the tax benefits and implications of installing solid state, LED lights at your facility to replace outdated and energy-inefficient incandescent bulbs and fluorescent fixtures. In addition to federal tax benefits for LED users, commercial establishments may enjoy tax benefits at the state level too. Properly outfitting your facilities with high quality, energy efficient lighting should be a priority for facility managers. Doing so, however, requires expertise that most building and facility managers don’t have.
It is useful to work with a Lighting Certified (LC) professional and a reliable manufacturer to ensure you utilise lighting best practices for either retrofit or new construction. Properly outfitting your property with modern lighting can also improve the aesthetics of your facility as well as the safety and security of those who live and work there (potentially hedging your organisation against expensive lawsuits).
Additionally, modern LED lighting in particular is extremely energy efficient relative to the technology it is replacing. As a consequence, LED retrofit projects can have a significant positive impact on the overarching financial health of your organisation. In fact, you can finance your entire project out of the savings you will generate by making the switch. Further, LED lighting does not produce heat like many other lights so you will meaningfully reduce HVAC costs as an unexpected side effect.
All too often an LED lighting retrofit is seen as an expenditure or a maintenance issue. In fact, such a project is a capital improvement that increases the market value of the property. Like with any capital project, building owners should use quality products to ensure that they realise the highest return on investment (ROI). Ironically, spending more money upfront can be a good thing. Cheap products equal poor ROI.
Whether you are interested in starting a new real estate project, converting an old one to a new purpose, or retrofitting an existing building with more efficient lighting, we would be happy to provide you with an in-depth lighting audit.
We have lighting certified experts that can provide cost-benefit analysis and return on investment calculations to highlight the exact benefit you can expect from implementing an LED lighting solution at your property. Unlike projects relating to ageing incandescent, fluorescent or HID lighting, bringing an LED lighting company on board can facilitate justification of a project on the basis of measurable capital improvements. Furthermore, an LED lighting company can often offer financing for the installation costs.