Total Cost of Ownership- Added Savings with Utility Rebates
by Nicole Michaud
14 October, 2015 03:50
Last week we introduced the topic of Total Cost of Ownership (TCO) for lighting. In the post we showed a simple equation to calculate the TCO of a bulb. The cheaper or less expensive upfront cost of a bulb may not always be the best option in the long run. Factors including the wattage, kWh rate, product cost, rated life, are all considered in your cost of ownership.
There are other ways to save when considering a switch to energy efficiency lighting such as LED. In addition to your long-term cost savings, utility sponsored rebates are an excellent way to reduce your upfront or initial costs- further reducing your Total Cost of Ownership.
Many local utilities offer incentive programs that provide rebates for energy saving products such as light emitting diode (LED) lamps that meet the ENERGY STAR® or the Design Lights Consortium (DLC) standards as set by the US Environmental Protection Agency. Since these rebate programs vary from state to state, we’ve created an easy way for you to find rebates by state.
Utility sponsored rebate programs can be viewed as a win-win situation for both the consumer and the utility. As more consumers implement energy efficiency projects, utilities see reduced energy usage, lowering the need to construct new power plants. As a consumer, you benefit because of the reduced upfront cost of purchasing energy-efficient fluorescent or LED lighting as well as a lowered utility bill. Your utility provider may offer a variety of rebate programs. These rebates could be instant or mail-in (prescriptive or custom). Instant rebates mean that the consumer gets a discount on the products at the point of sale and no further work is necessary. Below lists all of the instant rebates programs that Bulbs.com is currently offering.
Prescriptive or custom rebates all require a mail-in rebate approval. Prescriptive rebates offer pre-approved fixed incentive amounts for energy-efficient lighting products, sensors and controls. Custom rebates are generally for products which are not applicable through the prescriptive rebate program. These custom incentives are based off kW reduced or kWh reduced calculations. Bulbs.com participates in over 200 of these mail-in rebate programs and can be found by state. Also, a certified Lighting Specialist can assist with additional information.
Another money saving option is an energy efficiency lighting assessment for your business. Sign up for a free lighting assessment today and have a member of our Energy Services team walk you through the available rebates in your area.
If you have any questions about the rebates in your area or our Free Lighting Assessment, please contact one of our certified Lighting Specialists at 888-455-2800.