Why Lighting Retrofit
How would a lighting retrofit benefit you? It’s important to have a basic understanding of how you’re billed for energy use. When your business gets an electric bill, you are charged in several different ways. There is an energy use charge, a demand charge, a fuel adjustment charge as well as various other charges. Put simply, when you use less energy, you will be charged less. This is where a lighting retrofit helps. Having a LED lighting retrofit installed in your business means big savings for you company.
How Much Can I Save With LED Bulbs?
A lighting retrofit for your business gives you a quick return on your investment. According to the Energy Savings Cost Council, energy-efficient lighting upgrades represent the highest return on investment of any single-technology project, with up to a 45 percent ROI!. An LED lighting retrofit could pay for itself in just two years not to mention how much it keeps paying you back over the lifespan of the system by continuing to cut costs on energy and maintenance. According to the energy analysis software tool, Quickscope, each dollar invested in new, clean energy efficiency can increase your company’s asset value by as much as three dollars. You can also enjoy even more cost savings when you take part in a tax incentive or rebate program.
Rebates and Tax Incentives
There are several tax incentives and lighting rebate programs in Los Angeles and there are state and federal programs as well.
One popular lighting retrofit incentive LADWP CLIP program. The Commercial/Industrial Lighting Incentive Program (CLIP) is a program that provides rebates for commercial businesses that install newly purchased, energy-saving lighting and controls. The CLIP program uses calculated savings so you can customize your lighting and energy improvements to make sure your business is getting the most energy savings possible and receiving better incentive payments. The CLIP program also allows building owners a rebate of up to 75 percent of the full cost of an indoor lighting upgrade.
Improved Safety and Performance
Not only does high-quality LED lighting really save money, it can improve the workplace in so many ways. It improves safety, productivity and reduces accidents. A lighting retrofit will provide lighting that improves color, reduces flickering and increases light output.
You are Helping the Environment!
After taking advantage of all the tax incentives and reduced energy costs, you can take pride in the fact that your business is helping the environment. Businesses who are on the cutting edge of environmental technology are seen as leaders in the community who care about the world around them.
When you’re ready to make the switch to LED lighting at your company, call Titanium Power today at 213.533.1006!