Fed Policy Makes Swapping Lights with LEDs free for Some Businesses
Utility-driven “on-bill financing” combined with recent incentives make it possible to retrofit lights with no investment and immediate savings.
Your power company is often struggling to meet requirements to lower their electricity usage. They also have a financial incentive to meet those requirements, because keeping power consumption within a range means avoiding the need to purchase overflow capacity from a third party and get gouged on pricing.
To help meet these requirements, utilities offer their own incentive programs for business customers to lower their energy use by changing out their lights to more efficient LED lights.
The best part is that these new programs are reducing the cost of lighting projects down to as low as $0 installations in many cases.
This comes in several forms but two of the most popular and recent developments are “on-bill financing,” where a lighting retrofit can be paid off right on your power bill with no up-front investment, as well as cash incentives per fixture installed. In some areas they can be combined into what are pretty mind-blowing economics for the business customer, where the upgrade is basically free, and they save money on their power bill immediately.
See if your Business Qualifies
Up until about a year ago, LED lights were more about environmental protection than they were about saving money. But with these recent incentives and creative financing from the utility (or often now by the lighting contractors themselves), have changed that entirely. It has turned what used to be a tough business decision into a “no-brainer.”
Until now, solar panels were less about saving money and more about environmental protection. In order to get more people to switch to clean solar energy the federal and state governments are
When business owners come to Lightingestimate.com to see if they qualify, tons are blown away when they learn that they can replace their lighting with no upfront costs after rebates and incentives. You can find out which LED light incentives are offered in your area by using your zip code.
You can even use this tool to help calculate your savings by entering your utility provider and your average power bill. In many cases, customers are saving up to 50% on the cost of powering their home each year.
How Does Lighting as a Service Work?
We’re in this sort of sweet spot now. LED lighting has come down in price like crazy, but it’s gotten close to it’s bottom. On the other side, rebates and incentives for LED lighting have gone through the roof. Basically they haven’t caught up. Eventually all incentives for LED lighting will go away as they are cost effective on their own. But there’s still time to capture both ends of the benefits.
With 2021 LED lighting retrofit incentive programs, business owners in many utilities across the US can offset the cost of their lighting retrofit, and potentially to the point there they don’t even make a capital outlay and start saving money immediately.
Enter your zip code below to check for state, federal, or utility incentives in your region. Once your business is approved, you will have an opportunity to compare the best savings offers in your area.
Act Now & Start Saving Money Immediately
How Do I Find Out If My Business Is Eligible?
Click on your state below to check for solar incentives in your region. Once your home is approved, you will have an opportunity to compare the best savings offers in your area.
Type in your location info to see if your home is eligible for solar. The best part about determining your potential savings is that there is absolutely no obligation to do anything until you realize the savings that are on their way to you. We are experiencing some of the highest rebate, tax credits, and other incentives we have seen in years and many of them will expire this year. One customer this month we know of is saving $34,844 on their electricity bill and never made any upfront cash payment. That’s just the savings.
References:
new.usgbc.org/leed energy.gov/eere/buildings/179d-commercial-buildings-energy-efficiency-tax-deduction ncsl.org/research/energy/energy-efficient-lighting.aspx dsireusa.org
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