As a business owner, you run a tight ship. Everything flows together and works in tandem with each other to help you accomplish your goals while still making a profit. As such, you’re likely always considering how to increase your profit margins. Surprisingly, there’s a few ways to accomplish that goal, which may not be initially apparent.
How Much Money Can LED Save Your Business?
For example, LED lighting. Indeed, while rewiring your commercial lighting might seem like a steep price to pay for a lower electric bill, it pays itself off quite quickly. If you’re thinking of becoming more energy conscious, just consider that when Europe banned halogen bulbs, they realized that they were using around five times as much energy as their LED counterparts. If that doesn’t seem like enough of a savings, don’t worry, there’s more.
Saving Money Smarter
One of the main expenses you have to pay every month is your operations costs. Everything from paying your employees to your rent, and beyond to your utility bill. Now, most of these expenses you won’t be able to easily cut, and the most immoveable seems to be your utility bill. Your rent could change at the lease renewal, and an employee might relocate at some point, giving you the opportunity to hire someone who might require a less demanding salary. But the utility bill doesn’t seem like it’ll be the one to budge in this scenario.
But, you don’t have to be a Scrooge, demanding your workers don’t use any coal, to keep the office warm if you’re just trying to cut your utility bill, because you could start with energy costs. In fact, if you’re looking to cut your overhead costs, which could be the quickest way to increase your profit margins without cutting down on the quality of your product, you might first look at your energy consumption. It’s actually widely regarded as something you should regularly review in order to help cut those costs.
Obviously, switching to LEDs is the easiest way to immediately cut-down on your energy consumption for a relatively low cost. It can result in a 20% reduction in your total energy costs. Indeed, depending on the current lighting fixtures your commercial building is already fixed with, switching to LEDs could surpass the 20% energy use decrease and could reduce lighting costs by around 90% in some cases. If your utility bill is seeming a bit larger than it should, this could be an easy solution to make that monthly bill a bit more affordable.
Why Do They Save Money?
LED lights are built in a far more clever manner than their prehistoric halogen counterparts. They function by passing electrons through a semiconductor that requires no filament, thus there’s no filament to wear out, nor is there an easy way for them to get quite as hot. Halogen light bulbs lose nearly 95% of their energy simply because it’s producing heat, more than it’s producing light. In regards to LED, you’re only losing 5% of your energy to heat and wearing out the light bulb less the entire time. That means you’ll end up spending less in the long run replacing the bulbs as well as avoiding higher energy bills.
The Value Of ROI
Most folks hesitation to upgrading to LED is the initial cost of upgrading your fixtures and electrical wiring to support LEDs. Could hiring an electrical contractor to rewire your building really save you money? In short, yes. Your initial investment, because LEDs really can save that much, it would pay itself off within the first few years of the initial electrical upgrade. Not only will the upgraded system benefit you in the long run, but so will the bulbs. LED lights actually end up lasting 25 times longer than halogen bulbs because of how much more efficient they are and how they transfer energy. They also require less maintenance, which means your yearly maintenance bill will decrease alongside your utility bill. In short, LEDs are a practical investment, as they can save you money and time on multiple levels.
While it takes a bit more than installing better lighting to become a “green business,” it’s certainly a step in the right direction. You aren’t just saving money on your utility bill, you’ll be using far fewer energy units and bringing the demand for energy down throughout your community.
This lowers the demand for fossil fuels of all sorts that put our environments in jeopardy and harm wildlife as well as human quality of life in the area. Plus, a little eco-friendly tag next to your business name never turned away any customers. That’s what we call a win-win.
Benchmark Electrical Solutions offers exceptional electrical contracting solutions for both residential and commercial applications. If you’re looking to make the switch to better, greener lighting options, we can help. If you need help updating your lighting system to support LEDs, we can make wiring your business for this upgrade easy. Additionally, we can aid you in all of your electrical contracting needs, including general maintenance issues, when you eventually need them. We’re here to support your business in all things electrical in the Northern Colorado area. Reach out to us today if you have questions, and schedule an initial consultation now.
Looking for something a bit more specific or to build your business from scratch? We serve a variety of locations all over the U.S. and can help you start out on the right foot with greener building materials, energy saving utility set-ups and so much more. Reach out to learn more about our construction planning and management services in your area now.