Property utility expenses have become a line item on budgets that has been getting more attention in recent years. Causes of this attention include a rise in environmental concerns, focus on tighter cost controls when selecting fixtures for use in multi-family buildings, and studies showing significant time and cost savings by reduction of bulb replacements.
Together, property management teams, Buyers Access™, and supplier partners, have implemented extremely successful solutions to minimize the cost of utilities. Buyers Access™ has been instrumental in helping owners and operators complete several successful retrofits to LED lighting, and other energy conservation programs for assets built prior to the more economic and environmentally acceptable alternatives now available. LED retrofits and water conservation programs are two of the larger budgeted line items Buyers Access™ continues to see being considered across the nation.
Why fix something that isn’t broken? Here we will examine 3 reasons why you should include an LED Retrofit proposal with your next budget “wish list” items, and reasons to take the LED retrofit challenge.
Better control over electrical costs-
LED lighting lasts 15 times longer than the incandescent bulbs that were formerly widely used in new construction. Shifting to LED means less time spent by maintenance personnel changing bulbs with a higher frequency of burn out, as well as a lower cost of materials over time.
In 2008, LED bulbs were quite expensive. Since then, LED bulbs have reduced in cost by up to 90 percent. LED bulbs use significantly less energy and dramatically decreases common area electrical expenses. Substantial savings in energy consumption can be realized by properties electing to undertake an LED retrofit project with Buyers Access™.
Reduction in property carbon footprint-
Incandescent bulbs use an average of 70% more electricity than LED bulbs. Switching to LED bulbs preserves energy consumption and reduces the carbon footprint. Less waste is generated with the longer lasting LED bulbs as a result of less frequent bulb changes, which positively impacts the environment.
There are numerous grants and energy rebates which may also be available to your property if you choose to undergo an LED retrofit. Buyers Access™ and its supplier partners work diligently nationwide to plan these projects from start to finish, allowing properties to realize cost and rebate savings upon completion, and for years to come.
Reduction in property risk and increased aesthetic appeal-
Liability is dramatically reduced when areas are well lit and when bulbs burn out less frequently. Keeping up with lighting inspections and the constant replacement of bulbs gives any maintenance team concerns, especially on properties with interior hallways, or that have darker locational challenges.
Recently a variety of information has been published regarding LED lighting vs. other forms of lighting, and the potential correlation to productivity and mood. The change to LED lighting for increased productivity is something that could benefit the communities. Aesthetic appeal can also increase upon an LED retrofit project through nicely illuminated hallways and parking lots. This can potentially help to retain existing residents, and secure new prospects. Add this with the cost savings, and an LED retrofit will pay for itself over time.
Your next steps-
Buyers Access™ and its supply partners are dedicated to partnering with industry leading manufacturers specializing in LED retrofits. If you are currently a member of Buyers Access™ and would like a quote for a site wide LED retrofit project, contact your Account Manager and we will obtain a variety of pricing options and strategies to complete the project. If you are interested in learning more about how Buyers Access™ can help your team, please reach out to our sales department at firstname.lastname@example.org and a specialist will be in touch with you and start a complimentary analysis on savings.
The Power of LED Lighting (2019, May) Rooflines Vol. 55 No. 5., p. 23-25. Aaron Smith, Senior Lighting Consultant at LFP Lighting.
Shaw, P. (2018, August 1). LED Lights the way to savings. Multi-housing Pro Magazine Online.