We often talk about how much money you can save by switching to energy efficient lighting, but how much EXACTLY can you put back into your pocket? To calculate what your savings and returns would be on your home or business, visit our savings calculator here.
You will need:
- Quantity of existing fixtures
- Burn hours per year (number of hours the lights are on per year)
- Total Watts consumed by each existing fixture
- Total Watts of the new, prospective fixture
- The Individual Price of each new fixture
LED technology is very energy efficient, you can calculate the return on your investment in lighting conversion to see if a certain type of light would be a good investment for your business.
Calculating your return is a great way to visualize the financial benefits of lighting projects. Now that you're ready to save while still enjoying the comparable performance of your lighting system, it is time to conduct an economic analysis that includes determining the payback rate (ROI). We must not forget the positive return that is actually achieved by investing in the energy efficiency of the present. If you have saved enough money to invest in an energy-efficient lighting project for your home or office, you will also save a significant amount of money over the life of the project.
Many municipalities offer grants, loans and other incentives to encourage consumers to upgrade to energy-efficient appliances and lighting. For example, the City of Winter Park, Florida, is offering discounts to residential and commercial customers who are switching to energy-efficient technologies, including improvements to interior lighting.
Bonds can be used to finance energy efficiency projects that generate savings by reducing energy consumption and operating costs, or to purchase and install energy-efficient projects. In the US, there are a number of energy efficiency projects that are paying out through savings by utilities. Some public schools and universities offer their students interest-free loans for energy-efficiency projects that pay for themselves through utility savings accounts.
Speak with a representative today about what credits you may be eligible for by contacting us today!