Ways to fund the capital outlay of upgrading to energy-efficient lighting

Ways to fund the capital outlay of upgrading to energy-efficient lighting
  • Post published:November 30, 2020
  • Post category:News

Reduce running costs to survive the COVID-19 pandemic

The Covid-19 pandemic is a global health crisis that has undoubtedly created vast economic and social repercussions. Prolonged lockdowns and physical distancing have lead to a global recession which in turn has put SMEs under pressure to reduce operating costs to survive.

Make a saving on energy consumption by upgrading your lighting scheme

Cost-cutting is a reasonable strategy for businesses struggling to survive the Covid-19 economic impact. Positive cash flow is critical to maintaining solvency when business is disrupted or slow. Forward-thinking businesses need to strategically reduce operational costs so they can maintain market presence and prepare for the post-pandemic rebound.

Switching lighting from traditional light sources such as fluorescent, halogens and metal halide, to LED can reduce your lighting energy bill by over 60%. Even upgrading existing LED lights to newer LED technology can offer energy savings. LED lighting technology has continued to evolve over the last 10 years. Modern fittings are incredibly reliable, offer a longer life span and can include lighting control technology that can achieve a further 30%+ energy savings. The average return on investment is 2-3 years, depending on your daily lighting use.

Need help to finance the capital outlay?

1. Utilise local energy efficiency grant funding to upgrade your lighting scheme

There are still local grant funding schemes available to help towards the capital outlay of energy-efficient LED lighting solutions. Grant schemes are available for eligible SMEs where grant funding can cover up to 40% of the project cost. With grant funding, your ROI can drop to 18-24 months.

Example:
Low Carbon Workspaces has grant money available to contribute towards energy-efficient lighting schemes for businesses in the Buckinghamshire, Bedfordshire and Hertfordshire areas.

There are similar grant funding schemes available around the country.
More information about other energy-efficient funding schemes.

2. Utilise the Government’s Coronavirus Business Interruption Loan Scheme (CBILS)

CBILS provides financial support to smaller businesses affected by COVID-19. The scheme has been devised to provide short-term, low-interest loans to small to medium-sized businesses to support their operational costs and help secure a post-pandemic future.

CBILS has only been extended until 31st March 2021
Visit the GOV.UK website for more information on how to apply

3. Utilise a Light as a Service (LaaS) Scheme

Light-as-a-Service (LaaS) is a service-based business model in which the light service is charged on a subscription basis (rather than an up-front payment for fittings and installation). The monthly operating expense is calculated to ensure that it is less than the immediate energy saving achieved by the new lighting solution (ensuring that the scheme runs cash positive instantly).
More information about LaaS scheme

Post-Covid recovery

Taking advantage of grants, loans or no upfront capital expenditure schemes will enable shorter return on investment periods and reduce overheads to help your business to return to normality, profitability and aid the road to recovery.
Energy-efficient lighting not only offers cost-efficiency but also provides a reduction in carbon emissions, reducing your carbon footprint and helping to protect the planet.

Choose Earlsmann Lighting Consultants to provide a lighting solution that will significantly reduce your lighting energy bill

Earlsmann Lighting has many years’ experience in the LED lighting technology marketplace, specialising in providing energy-efficient led lighting solutions to suit every interior and exterior application.

Call us for a no-obligation initial chat about your potential project. Call directly on 01884 259917  or email sales@earlsmannlighting.co.uk