How many times have you heard that upgrading to LED lighting is expensive? Ever wondered how cost-efficient would it really be if you made the switch to LED fixtures? If only there was a way to see the actual figures of how much you can save, right?
Well, we at Marvel Lighting created a calculator where you can see whether an LED upgrade will save your business more money in the long run and if it really is worth the extra cost!
You’re probably looking for ways your business could save with the cost of just-about-everything rising these days. Will an LED retrofit or lighting upgrade really save your business money?
Absolutely, and sometimes in the tens of thousands of dollars.
We’ve built an ROI calculator to help you determine the amount you’ll save in maintenance, utilities, and fees.
How do we calculate the ROI of your LED Upgrade Cost?
After calculating the energy usage from your existing fixtures, we multiply that by the rate charged on your utility bill. The cost of new fixtures and installation fees is subtracted from the estimated energy savings to get your return on investment.
You will soon see that the up-front cost of your lighting upgrade is more worth it when your energy bills are lower and your maintenance costs are reduced.
Check out this upgrading project we did with CityWay South Garage recently. The project resulted in an estimated annual cost reduction of $39,609 after upgrading 240 fixtures. We also placed an extra 21 lamps and 178 sensors.
This project not only improved the quality of lighting in the carpark, it also saved the business operating, maintenance, and labor costs.
Still need convincing?
LED technology is ever changing and improving. There is usually an improvement in efficiency with every update, which can mean a higher lumens to watt ratio. You can get the same level of brightness from a lower wattage fixture as you would from an older model.
Don’t forget that updating your lighting also improves design aesthetics in your space which makes for great customer impressions. A lighting upgrade is truly more than just a business purchase, but rather an investment with a fantastic return.