No matter what kind of business you’re in, cutting down your utility costs is one of the real “low hanging fruits” of long-term success. Whether you operate a retail store, office building, manufacturing space, or warehouse, monthly energy bills can be one of the largest expenses that you have.
As the economy is fixing for a rebound, 2021 is the perfect time to make an investment in your company’s energy systems. Upgrading to energy efficient LEDs is more affordable than it has ever been, and lenders seem more willing than ever to help with commercial projects.
Still haven’t made the leap to LED lighting? Here are 5 reasons why 2021 might be the year you were waiting for:
There are more utility rebates available than ever
Contrary to popular belief, utility companies do not want to grow. Every new power facility requires a significant infrastructure investment, lowering their per-customer profit by a significant margin. For this reason, utility and energy companies have started offering LED utility rebates.
These rebates make the cost of energy saving projects like commercial LED retrofits much more affordable, even for small businesses.
Check with your utility company to see which rebates are available before you make any purchases.
Prices for commercial LED lighting systems are low compared to previous years
LED lighting systems and LED light bulbs have become more affordable in recent years. While one reason for this is a flood of lower-quality LED products, the bigger reason is that LED production has simply become more efficient. Today, even the highest quality LED bulbs are not nearly as expensive as they used to be.
A slow economy can be a good time to invest in infrastructure and technology
According to some financial experts, an economic downturn might be the perfect time to invest in your company’s equipment and technology. Financing rates are much lower during a downturn, making it possible to save big on large-scale projects like LED retrofits. In addition, LED installation experts are offering additional price incentives to encourage businesses to continue to support LED.
Dynamic LED lighting systems can reduce employee turnover as your company grows
A high-quality commercial LED lighting system can actually make your employees more satisfied with their workplace. In fact, some studies have shown light quality to be within the top 3 factors affecting employee job satisfaction.
Because onboarding is a significant expense and time-drain, increasing employee retention is an easy way to save a lot of money.
Lower energy bills can stimulate your company’s financial rebound
As most business owners can tell you, it’s all about the bottom line. That means that every month, you’re hoping to spend less than you make. Investing in a commercial LED lighting system is an investment that pays out in short order, dramatically reducing your energy bill and paying for itself in a short few years.
Lowering your company’s energy bill can make your cash flow numbers more attractive, while only increasing your total liabilities by a small amount.
No matter which route you choose, be sure to consult with an LED lighting expert to maximize your rate of return.