Doing a full conversion to LED lighting for a large residential or commercial project requires a large cash outlay up front to reap the benefits and payback you will gain from the hydro costs saved. There is a growing trend for 3rd party financing for LED projects usually in the form of a lease. LED Lights Canada has been approached by several leasing companies in Canada who are more than willing to create a lease to cover the costs. In many cases the monthly savings in hydro costs can actually offset the monthly lease payment making the conversion to LED lighting revenue neutral.
Peter Kelly Detwiler, a contributor to Forbes Magazine recently published an article titled “If you want to sell efficient lighting solutions finance them”. Here is a short excerpt from his article:
The savings from efficient lighting solutions is so significant that they are cash flow positive – including financing – right from the start. Hubbell recently initiated a project at a Marriott Courtyard in Nashville, Tennessee. Originally spec’d for new construction as fluorescents and HIDs, Hubbell’s Cash Flow+ program substituted LEDs instead – in outdoor floodlights, indoor downlights and troffers, and even the exit signs. From day one, when the project is complete in September, Marriott will reap over $2,000 per month in lower energy and maintenance costs without upfront capital investments.
Click on the link below to read the full article published in Forbes.
Leasing a light bulb does not seem so crazy now. Contact us if you are interested in looking at leasing for your next retrofit project.