PHILADELPHIA—LED Saving Solutions, a supplier of U.S. made high-performance LED lighting, is offering $10 million in grant incentives to private companies to jump-start conversion from energy wasting traditional lighting to more energy efficient LED lighting. The Green Light Program provides private companies and nonprofit organizations in the United States with up to $10,000 in grant funds to be used toward an LED lighting retrofit.
“This grant program is not some Santa’s list rewarding companies that have been nice to the environment,” says Charlie Szoradi, president of LED Saving Solutions. “This is about introducing a simple and measurable way to reduce total operating costs for companies facing cash flow challenges in this prolonged recession. The switch from energy-intensive fluorescent tubes to new energy efficient LED lighting is a true paradigm shift—it requires breaking muscle memory and clearing up misconceptions about the technology.”
Fast Payback Possible
Given the 25 percent grant from LED Saving Solutions, the cost of a phase one retrofit drops considerably and generates tremendous savings. For example, a $10,000 LED retrofit could save a company up to $7,500 a year, or about $625 a month in energy costs. With the Green Light program, that $10,000 cost of retrofitting drops to $7,500 and the payback could occur within the first year. The LEDs are rated for 80,000 hours so they can run constantly for almost a full decade. A company spending $7,500 would save $75,000 over the life of the LEDs.
“With this program, the installed LED lighting has an average payback time of less than three years,” Szoradi explains. “The total retrofit from this program would equal $40 million ($10 million from grants and $30 million from the eligible companies that choose to retrofit) and the annual savings would equal $13 million per year or $130 million over the lifetime of the LEDs. Business owners can put those dollars back to work in the economy: hiring more people, investing in equipment, R&D, etc. Plus, for every dollar of energy saved, 13 pounds of CO2 emissions are typically reduced. So over the life of the LEDs the environmental benefit would exceed 1.5 billion pounds of CO2 reduction. What’s good for the planet is also good for business.”
According to U.S. Department of Energy, America uses 25 percent of the world’s power with less than 5 percent of the world’s population. Almost half of the power consumed is for buildings (homes, offices, schools, hospitals, stores, hotels, restaurants, etc. which consume about $180 billion in energy annually).
“We’re proving the U.S. can solve its own energy challenges right here at home,” Szoradi says. “We choose to help lead this country’s new energy economy by manufacturing our LED lighting right here in Pennsylvania. We’re hoping other American businesses will follow our lead and the Green Light Program is an ideal place for them to start.”
Go to www.ledsavingsolutions.com.