Rising cost of electricity
- Lighting represents 30% or more of electricity consumption in warehouses & 12% in commercial buildings (Source).
- We have all noticed the consistent rise in utilities and electricity prices over the past year. There is a way to reduce these costs by moving to LED lighting for your facilities. This is also a great way to improve occupancy rates.
- Here is a regional look at electricity cost increase data comparing February 2022 and February 2023. There are some staggering increases during that 12-month period:
Cost of Waiting
- Take advantage of utility rebates, incentives and bonus programs that can pay 50% or more of your project costs.
- We found the average cost of waiting for projects costing $40,000 or more to be $2,900 a month or $34,800 annually. You could easily use these savings to fund other projects.
- You may also qualify the 179D commercial buildings energy efficiency tax deduction. Please consult with your accounting team and refer to the information provided by the Office of Energy Efficiency & Renewable Energy.
Customer, tenant & employee safety
We often focus on the economic outcomes of projects, but LED lighting can also keep your customers, tenants, and employees safer by better illuminating workspaces and dimly lit spaces such as warehouses & parking lots.
LED lighting has an immediate impact by supporting your sustainability and carbon reduction goals.