What are the Benefits of a Retrofit?
With lighting accounting for more than 25 percent of the energy used in most buildings, increased efficiency can make a big difference to your monthly energy bill.
Reduced Energy and Maintenance Costs
Energy-efficient lighting upgrades represent the highest return on investment of any single-technology project, with an average ROI of 45 percent. These upgrades pay for themselves on average of 2.2 years and the payback continues over the lifetime of the system through reduced energy and maintenance costs.
Tax Incentives and Rebates
Numerous tax incentives and utility rebates are available for choosing sustainable lighting for non-residential buildings. Federal, state and local programs may provide incentives for the certified use of qualifying energy-efficient lighting technologies in both new construction and renovation applications.
High quality lighting can improve facility safety, reduce quality incidents, improve productivity and increase occupant satisfaction. Newer technologies often have better lighting-quality characteristics, such as improved color, reduced flicker and greater light output.
Improved Performance and Productivity
A Cornell University study found that one in four workers experienced a loss in work time based on vision problems and discomfort caused by poor lighting. The study found improvements in the average office lighting system can result in a 3-5 percent gain in employee productivity.
Reduce Size and Expense of Renewable Energy Systems
Companies considering implementing a renewable energy generation system to cover the energy usage of the facility can greatly reduce the size of the system by retrofitting the facility first. Using less energy results in either a smaller renewable energy generation system or a system that replaces a larger percentage of purchased electric.
Environmental Impact / Corporate Social Responsibility
By consuming less electricity, your facility can reduce its electrical load, thus reducing the demand and associated emissions from “off-site” power generation. In addition, lighting upgrades and other sustainability initiatives can help you keep up with investor, community and customer environmental expectations.
Research done by Energy Star using Quickscope, an energy analysis software tool, found that each $1 invested in energy efficiency could increase asset value by as much as $3.