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Technology
May 18, 2016

Incentives, Rebates Can Vastly Reduce The Cost Of Retrofitting LEDs

Sponsored Content provided by Joe Marston - President, Wilmington Winlectric

When it comes to renovating the lighting in a small office, industrial setting or commercial environment, whether it is to improve overall quality or increase efficiency, the upfront costs can be a barrier. Although LEDs quickly deliver a solid return on investment and a definite win for the environment, many business owners have to make decisions with more of a basis on the bottom line.
 
Luckily, there are a wide variety of incentive programs available through utility companies, as well as federal, state and local governments. Using these programs effectively can result in a substantial cost savings. Also, now that there are numerous rebate and incentive programs available, the payback period for retrofitting has been drastically reduced.
 
In the past, business owners often had to wait for many years or even up to a decade to receive a rebate or a payback from an incentive program. All of that has changed and the waiting period is now less than a year for most applications. Of course, this is all dependent on the size and scope of the lighting project.
 
The savings are partially due to the fact that many lighting projects are eligible for more than one incentive program. For example, a business owner in Georgia with a 100,000 square foot building might qualify for both state and federal tax credits.
 
With a Georgia tax credit of $0.60 per square foot and an additional $0.60 per square foot tax deduction available from the federal government for energy-efficient lighting installations, the savings can be substantial. The business owner from this example would receive $120,000 back for doing an energy-efficient lighting retrofit or installation – not too bad!
 
Considering recent price reductions that affect LED bulbs, as well as the many improvements to LED fixtures, control systems and sensors that have been made over the past few years, the time to invest is now. In fact, LED lighting solutions have actually gotten to the point where it doesn’t make sense to wait for further advancements, because doing so effectively decreases the potential lifetime savings.
 
Aside from the money that is saved in terms of efficiency, LED light fixtures provide a range of additional benefits, such as:

  • Lower replacement costs. This decreases the burden for maintenance technicians and is especially important for buildings with lighting in areas that are difficult to reach.
  • Lower operating expenses. This leads to higher net incomes and increased property values.
  • Easier to control. Being able to customize a lighting solution to fit the needs of a space results in added savings.
  • Higher quality and consistency of lighting.
There are many other benefits associated with using LEDs over standard fixtures, but space constraints prohibit listing them all here. To figure out if you are eligible for an incentive program or to determine how to reap the most impact against the upfront costs for an energy-efficient lighting solution, contact me today at (910) 742-7029, by email at [email protected], or on the web at www.WilmingtonWinlectric.com.
 
Joe Marston is a seasoned entrepreneur and the president of Wilmington Winlectric, a leading distributor of lighting solutions and electrical supplies. Offering reliable guidance and trusted insights, Wilmington Winlectric serves clients in the industrial, commercial, and residential markets. Wilmington Winlectric is a locally-based provider of consultation services as well as lighting solutions, controls and electrical equipment. To find out how Wilmington Winlectric can benefit your business, call 910-790-1909, email [email protected], or visit www.WilmingtonWinlectric.com.
 

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