One of the most common questions we hear from business owners is when is it the right time to invest in LED lighting. The cost of LED lighting has fallen over the past few years which spells big savings for business owners interested in cutting down their energy costs.
So, the short answer to this question is clear — right now is the perfect time to jump into the LED game. This blog entry goes in depth with a few reasons why your business should seize the opportunity sooner rather than later.
The cost of LED lighting has fallen dramatically. In the past three years, the price has reached what’s called the point of price equilibrium, the point where the supply of goods matches demand. Prices will not continue to fall as they have in the past.
Many business owners opt to play the waiting game with their lighting needs to get the lowest possible prices. That time is now, as the short-term gains of waiting for a few cents cheaper do not outweigh the dollars you will save using LED lighting in your business.
One of the biggest, immediate benefits to a business’ bottom line are the utility incentives and rebates provided by your utility provider. These rebates are immediately offered to businesses willing to invest in the technology that cuts back on the amount of energy they use. This reduces the strain on their power grid and the possibility of brownouts and blackouts.
The amount captured is dependent on the scope of the project and your utility company. A recently completed LED installation of ours, done for Champion Ford Lincoln Mazda, captured over $68,000 in utility incentives and rebates.
However, these incentives and rebates won’t be around forever. As the technology becomes more common place, the expectation for companies to reduce their energy consumption will become the industry standard. Not allowing this pristine opportunity to slip away should be a big motivator to get your business outfitted with LED lighting fixtures.
With the expectation that LED technology will become more commonplace, being among the first in your geographic area or industry to adopt it makes you a leader rather than a follower. Staying ahead of the curve can become one of your defining business characteristics.
The money is there, are you willing to reach out and grab it? The savings are apparent, but LED lighting also allows you to focus the light exactly where you want it and in a way that is more visually striking than any other type of lighting.
Coupled with a system that tracks the motion of visitors, you can hone in on exactly when and what potential customers are looking at. This could mean better sales overall on top of the energy savings you accrue over time. Waiting for the price of LED systems to bottom out isn’t going to gain your business anything.
Businesses around the country are starting to see the LED difference, so what are you waiting for? Take your first step toward realizing actual savings by downloading our FREE case study showcasing the work we did for Limited Brands, Inc. We’re sure that after you see the numbers, you’ll be eager to get started with us on your new lighting solution.