Many companies hesitate to pursue commercial LED retrofit lighting as a capital improvement project, though the benefits far outweigh the burden of upfront costs. A switch to LED lighting delivers a high return on investment on multiple fronts. Read on to learn more advantages of adding an improved system of lighting to the interior and/or exterior of your business with an LED retrofit project.
Energy Costs are Slashed
Monthly lighting costs will be reduced by nearly 80% when you switch to using LED lights. The monthly savings help to fully pay back the cost of the project. As an example, one of the largest property owners in an affluent county invested $60,000 in an LED lighting retrofit. Arrangements were made to pay for the lighting and installation costs over time. In the first year, the monthly savings were greater than the monthly loan payment.
It’s a mistake is to think that all of the savings are for the cost of lighting. LED lights put off very little heat. As a result, after a retrofit is completed, the HVAC system doesn’t have to work as hard on cooling. Approximately 25% of the total savings from using LED lights came from less demand being placed on the HVAC system.
Maintenance Costs are Lower
Material and labor costs are also cut because LED bulbs last an incredibly long time, especially as compared to incandescent bulbs. For instance, the average lifespan of incandescent bulbs ranges between 750 and 2,000 hours. By comparison, LED bulbs last between 40,000 hours and 150,000 hours! Maintenance of exterior lighting in parking lots is a significantly lower expense for this reason.
Building Market Value Increase
Businesses that get an LED lighting retrofit also get the benefit of increased building market value. Simple maintenance upkeep can’t achieve what LED lighting offers. The owner of the multiple properties referenced above had a property market value increase in excess of $400,000 as a result of the LED retrofit project.
Benefits of an Interior LED Lighting Retrofit
The benefits of LED lighting are clearly worth it when all things are considered. The following are more of the reasons to hire a trusted project management company for a commercial interior LED lighting retrofit.
Rebates, Grants, and Tax Incentives
Federal, state and local incentives are often available to businesses who invest in an LED retrofit. Check to see what tax incentives, rebates, and/or grants might be available to you where you live.
Environmentally Friendly
LED lights are safer for the environment, as compared with earlier technologies. LEDs do not contain mercury or other harmful chemicals.
Enhanced Safety
LED lights provide improved illumination that is free of flickering and dim, shadowy areas. The number of worker accidents is reduced. It’s also significant that great lighting provides high visibility and serves as a deterrent to intruders and criminal activities.
A Boost in Worker Productivity
Research shows that high-quality lighting that provides clear illumination improves worker productivity. Employees have less eye strain and headaches. Warehouse workers have fewer mishaps, as well.
Contact Weaver Realty Group for Project Management
For your commercial LED lighting retrofit and other capital improvement projects to run smoothly, contact Weaver Realty Group. We offer fully integrated property management services. You can leave the planning, coordination, budget, and supervision to our experienced and qualified agents. Weaver is a Florida Licensed General Contractor and LEED Accredited Professional. Contact our experts today at 904-733-0039.
