If you’re thinking about upgrading the lighting system at your facility and undergoing a LED lighting retrofit you’re probably worried about costs. Money is one of the biggest reasons why decision-makers at facilities and commercial buildings wait to get the LED lighting system they desperately need. If you’re in this predicament, Lighting as a Service LaaS is a financing option to consider. It may help you get your long-awaited lighting upgrade without financial concerns.
What is Lighting as a Service?
Lighting as a Service is a subscription pricing model that provides turnkey service for your energy efficient lighting. Your subscription covers all aspects of your energy efficient LED lighting upgrade, including the audit of your facility, product selection, fixture layout, and design, installation, recycling of your old lights, applying for and handling of rebates from your utility provider, complete project management, and warranty processing of the lighting system.
What are the benefits of Lighting as a Service LaaS?
With the LaaS model, you can get the energy saving LED lights you need in your facility without an upfront cost. Unlike traditional financing models, your Lighting as a Service payment does not show up on your balance sheet.
A capital purchase of a lighting overhaul can be expensive, but with a LaaS contract, you enter into a service contract, which can result in immediate cash flow. How is this possible? After your LED lights are up and running, your standard already-budgeted-for electricity bill expense will be larger than your new bill amount and the LaaS subscription payment combined leading to extra cash for your facility.
LaaS is growing
According to recent reports, the lighting as a service market is expected to grow at a CAGR of just over 50% during the forecast period of 2020-2025. It’s no surprise given the benefits of LED lighting for a facility – energy cost savings, decreased carbon footprint, and increased worker productivity, just to name a few – and the elimination of financial hurdles Lighting as a Service offers.
Connect with a LaaS provider
WattLogic is a Lighting as a Service provider that is dedicated to your project. We choose the best lighting technology for you, instead of opting for the fixtures that work best for us. Find out the top things you should consider when hiring a commercial lighting contractor here.
Our number one goal is to get you the most savings and best technology for your unique building. Reach out to us today at (800) 834-8737 to get your audit! If you want to get more information about lighting audits you can go here.
Interested in more energy efficiency technology? We also offer Energy as a Service, which provides the same financial benefits, but for more than just LED lighting systems, including power monitoring, solar, and energy storage. Find out about Energy as a Service here.