Utility Rebate Optimization
Saving money on your monthly electricity bills can help bolster your bottom line. And a quick and easy way to reduce electricity cost is by upgrading your lighting to LED technology. When considering an LED lighting upgrade, the cost, in large part, depends on the rebate you receive from your local power company. And did you know that all rebates are not created equally? Selecting the best rebate to use can be the difference between a 12-month and a 48-month payback on your lighting upgrade investment.
Simply put, prescriptive rebates are offered by your local electric utility company based on the fixture you buy and install. For example, prescriptive rebates in Xcel Energy territory, pay $1.50 each when replacing a 60W incandescent bulb with a 9W LED bulb.
Computing a custom rebate goes one step further. If your LED lighting retrofit provider has advanced reabte calculation capabilities, they can compute the energy savings on a "per fixture" basis using variables such as power savings and actual time and duration of use. That same light bulb with a $1.50 prescriptive rebate can bring as much as $28.00 if the light is being used 24/7.
No Hassle Rebate Filing
Computing and filing for rebates are time-consuming and expensive. This is especially true for custom rebates that maximize the dollars you receive. When shopping for a provider, ask if they will handle the rebate filing for you. What's more, ask if they are willing to advance you the rebate as an instant credit on your retrofit which guarantees the amount that you receive.
Rebates are Going Down
Every Year rebates are going down. That prescriptive rebate on the 9W LED bulb that brings $1.50 today was $5.00 not long ago. Declining rebates makes it imperitive that any building owner who is considering saving money through a lighting upgrade ACT QUICKLY or risk losing real money!