Without argument, if you have a facility that is currently using Metal Halide, Mercury Vapor or High Pressure Sodium, you need new lighting. The great thing about it is that very often, these are self funding projects. Yes, you heard me correctly. You can put new lighting in at no cost to your company.
Each month you get a bill from your energy company. You have to pay this bill otherwise your power will be cut off. Using new lighting technology will lower your lighting costs up to 75% under the right circumstances. If you pay $10,000 a month in lighting costs and that is cut in half, the $5,000 savings will pay the lease payment. There is no impact to your cash flow. Once you pay off the lights, you’ll be putting that $5,000 right to the bottom line. That is essentially increasing your net revenue by $60,000 a year. In this economy, more revenue certainly isn’t a bad thing.
There’s more. The federal tax credit has been extended. That means that you can take up to $.60/sq. ft. up to the cost of the project as a credit to your taxes. This can mean big money, lower the cost of the project and improve the payback period.
It just doesn’t make sense not to change your lighting. Period.