For building and facility owners and property managers looking to increase the value of their commercial properties, it’s important to consider different options that will hold value over time, decrease costs associated with maintenance, and conserve energy. One way to accomplish these goals is with an LED retrofit. With the number of LED options available, it’s easy to feel overwhelmed when making decisions about updating your building lighting. With the advancement of technology, the decision making process has become much more complicated. Here are the three most important things to keep in mind when considering an LED lighting retrofit.
- What matters most to your business?
Understandably, the primary factor in most decision making processes is money, and the same is true in the LED retrofits. Beyond just the desire to save money, however, are several specific factors to consider as you plan out your project. These factors are energy, maintenance, and performance. Which matters most to your business?
Don’t expect utility companies to cut the cost of energy any time soon. Considering that, and the fact that energy comprises about 80% of your total lighting costs, the financial benefits of an LED retrofit become very apparent. Switching from fluorescent to LED in your building’s high burn hour areas alone, for example, could take your energy spend down 60-90%.
It’s easy to look at the amount of time spent maintaining and fixing lights at your facility as a necessary evil, but it is important to understand the amount of money and time being lost with these tasks that could be avoided because of an LED lighting conversion. In a recent LED retrofit project, a commercial property company reduced their annual maintenance costs by $1,100 by replacing just 25 fixtures. Additionally, knowing what to expect from each lighting application and which is most important is critical. For instance, is it most practical to update your warehouse to LED high bay lighting first, or should we focus on exterior LED wall packs instead?
Beyond the financial benefits of LED lighting, there are the significant upgrades in light performance. The advancements in color quality and innovative features like progressive dimming are just a few of the great options that LED provides. Things like correlated color temperature, which measures the color of a light with a numerical value, are crucial if the atmosphere of your office, restaurant, or commercial space is important.
- What are your specific circumstances?
Whether your building is a new construction or a remodel, an outdoor space or indoor, each project will have its own set of variables and goals. Understanding what these are and how best to achieve them is a big step towards a successful LED retrofit.
For starters, it is important to know what rebates, offers, and financing options are available to you. These are rapidly changing and can be tedious to understand and utilize, but if done correctly, a rebate program can have significant advantages for your project. Use tools to help determine your projected ROI so you have a clear idea of the value of your investment from the get-go. This includes knowing your current lighting utility costs and energy usage, what lamp wattages you have, and other factors like installation, project timeline, and funding considerations. Additionally, knowing how much money is being spent on maintaining your existing lighting is pivotal in determining your budget and expected ROI. This includes everything from costs of new bulbs and materials to facility downtime because of an outage – all of these factor into your overall costs.
- Finding a company you can trust