How Much Does a Lighting Upgrade Cost?

Are you thinking about upgrading the lighting in your Raleigh, NC business? With recent advances in lighting technology, there’s never been a better time to improve energy efficiency and the appearance of your commercial space. Here’s what you need to know about how much a lighting upgrade can cost and how it can benefit your business.

What are the costs of installing new commercial lighting?

There are many factors that influence how much a lighting upgrade will cost at your Raleigh, NC commercial space. Since all businesses are different and have unique needs, the cost of your system generally depends on how many lights you need for the space. On average, small businesses spend between $10,000 and $20,000 on LED retrofits, while larger businesses can expect that number to grow exponentially.

Be sure to include any relevant outdoor lighting, including signage, in your accounting. Outdoor lighting typically consumes a major portion of a building’s energy consumption, so it’s the most effective area to upgrade.

What are the benefits to upgrading your commercial lighting strategy?

When you work with the professionals, you can maximize the benefits of this upgrade. You’ll see the following benefits:

  • Energy efficiency: Energy-efficient commercial lights, including LEDs, consume 75 percent less energy than traditional options, including fluorescent and halogen bulbs. Businesses of all sizes see massive financial savings in the form of reduced energy bills.
  • Eco friendliness: Upgrading your lighting is excellent for the environment, reducing your overall carbon footprint. LED bulbs also last longer than other bulbs, helping you reduce waste.
  • Convenience: Bringing your lighting up to modern standards increases your personal convenience. Most LED lighting options have a wide array of special features, including dimmers and the ability to change color and color temperature. They also can be programmed to turn on and off whenever necessary, reducing light pollution and saving energy when your building’s not in use.
  • Safety: A well-lit business keeps customers and employees safe. You should take great care to make sure all areas of your business, both inside and out, have adequate lighting, and bright LEDs help you do just that.

Are there any rebates or tax incentives available?

In most areas in the country, there are generous rebates to help offset the cost to switch to LEDs. In general, as a tax incentive, you can depreciate the entire cost of the project up to $1.80 per square foot in the first year. Many utility companies often cover a rebate when you upgrade your lighting. In most cases, the rebates cover 20 to 30 percent of the total project cost—your lighting installation professional will work with local utility providers to see if they offer this generous incentive.

Getting an estimate from a professional lighting company is the best way to gain an understanding of how much a lighting upgrade will cost your Raleigh, NC business. You’ll be surprised at how cost-effective energy-efficient lighting really is. Contact Box Electric Company today to learn about modern options for keeping your commercial space well-lit and attractive.