WELCOME to the Light Up Philly Program.
This resource center is a private sector initiative designed to help meet the public sector goals of making Philadelphia the number one green city in America. Light Up Philly is a springboard for Greater Philadelphia business owners and operators to launch energy intelligence measures. Energy intelligence reduces operating costs, increases property value and promotes job retention and creation in the region.
Starting July 4, 2016 Greater Philadelphia area businesses have an opportunity to dramatically reduce the cost of lighting retrofits. In addition to the discounts financing programs are also available that have a $0 out of pocket cost and generate positive cash flow in the very first month. Now a lighting retrofit can actually MAKE MONEY rather than cost money.
SUMMER 2013 Discounts:
Utility Company Rebates: 20%
Federal Tax Incentive: 10%
LED Manufacturer Discounts: 10%
Specialty Grants: 10%
TOTAL Discounts: 50%
These discounts are estimated averages, and total savings are subject to each business. The Specialty Grants are available for Regional Manufacturing Companies + Minority, Women, and Veteran Owned Businesses. For more details, please see The Discount Structure.
Why focus on LIGHTING?
According to the U.S. Department of Energy (DOE), buildings consume about 40% of domestic energy, and of that about 30% of commercial electricity is typically for lighting. This makes lighting one of the largest areas of opportunity. A new generation of Light Emitting Diode (LED) lights can reduce the electricity cost by 65% or more over the traditional lights. The wasteful fluorescent tubes, metal halide parking garage fixtures, and high bay fixtures that dominate commercial and industrial ceilings have been taken for granted for so long that many business owners do not see the waste because the electricity bills do not have a break out with separate metering for lighting over other uses like computers and air conditioning. The old lights are a cancer, growing undetected for decades. Now, the fix is at hand and with new benchmarking requirements on energy consumption for commercial properties, lighting emerges as the most cost-effective “low hanging fruit” of energy reduction.
The Benefits of Energy Intelligence:
Impacting positive change across the energy landscape can help businesses grow stronger by reducing operating costs and providing the extra monthly funds to retain employees or bring on new employees. Smart lighting is a driver for the coveted job creation that helps the local, regional, national, and even global economy.
According to ENERGY STAR, a 10% decrease in energy use could lead to a 1.5% lift in net operating income (NOI). Commercial LED lighting retrofits offer an even greater lift. As an example, a 100,000-square foot building may pays $2 per square foot in annual energy costs, adding up to $200,000 per year and over $16,000 per month. The lighting is typically 30% or $60,000 per year and $5,000 per month. With LED tube technology or LED fixtures for parking garage and LED high bays, a 65% reduction in cost adds up to about $40,000 in annual savings and over $3,300 each month. This could make the difference for retaining an employee or adding a new one. Plus, at a capitalization rate of 10%, this $40,000 increase in net operating income could mean a potential asset value boost for the business of $400,000! Changing the lights just got a lot more appealing.
For examples of LED installations in Greater Philadelphia see Independence LED Lighting.