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July 2020 – LED Lights Upgrades
The Advantages of LED Lighting for Your Business and the Environment
The Light-Emitting Diode (LED) lighting revolution started ten years ago. Upgrading to LED lights can be energy-advantageous in virtually every niche. Technology still offers a vast range of energy-efficient products that can immediately make an impact after installation. The differential in energy savings can be 40-80% of your property or business if you have incandescent, halogen, and fluorescent lighting. Deeper savings of 85% to 90% are achieved when LED lights are combined with controls and sensors.
Local Law 88 – Lighting Upgrades
NYC Local Law 88 of 2009 requires property owners to reduce the lighting power densities by 25%-30% to meet energy code standards by 2025. STRATCO’s energy-efficiency and conservation consultants can help you comply with LL88 ahead of the curve with future-proofed available lighting products and ensure the lighting meets your aesthetic and functional needs.
Our Approach
Our goal is to offer you LED products and services that reduce your operating energy and maintenance costs and provide you with the greenest, most environmentally friendly illumination technology today. We aim to do this by having access to and integrating the most advantageous third-party rebates and incentives to provide you with the highest equity multiple on your working capital.
ConEdison Rebates Program
STRATCO is an approved ConEdison provider that offers rebates and incentives to customers who install energy-efficient fixtures and other equipment. These rebates can pay for most, if not all, of your project. The rebates may apply to LED fixtures, sensors, controls, and retrofit installations.
2020 ConEdison-issued rebates are currently at a historical high, and you should take advantage of the limited, first-come-first-served additional bonus incentives offered for LED fixture upgrades and retrofit installation. These incentives are expected to be below normal levels next year.
STRATCO Property Solutions makes it easy for commercial and multifamily customers to purchase and install qualifying ENERGY STAR and DesignLights Consortium (DLC) LEDs.
FAQs
What situations are the best candidates?
- Buildings that have existing fluorescent or incandescent lamps in common areas will have the highest payback.
What buildings qualify?
- Commercial and multi-family buildings (more than five units) in the Con Edison territory. Specifically, light fixtures that are on the owner’s account.
If your property is in one of these areas, incentives are even higher:
- Brooklyn: Greenpoint, East Williamsburg, Bushwick, Bedford-Stuyvesant, Crown Heights, East Flatbush, Brownsville, East New York, Cypress Hills, Williamsburg, Prospect Park, Clinton Hill, Park Slope, South Slope, Fort Greene, and parts of Prospect Heights.
- Queens: Richmond Hill, Howard Beach, Broad Channel, Ozone Park, South Ozone Park, Woodhaven, Kew Gardens.
What is the general out-of-pocket costs on the low end per fixture?
- Around $180 per fixture installed
What type of payback should people expect?
- Anywhere from 1 to 2.5 years on cost.
What are the benefits of LED lighting?
- Longer lifetime
- Lower Energy Costs
- Crisp, clean light reduces eye strain for a more comfortable work environment
- Instant-on lighting does not flicker or hum, no delays when starting up
- Most styles are compatible with dimmers
- Unlike CFLs, LEDs do not contain toxic materials, such as mercury or lead
- Bulbs emit a high-quality, natural light color for beautiful product displays
- Saves on bulb replacement, maintenance, and cooling-related costs
- Environmentally friendly
- Flexible design and adjustable color temperature
What’s the lead time from contract signing to finish?
- Work will be completed 30-60 days from proposal signing.
What are some things to keep in mind?
- These historically high incentives will be disbursed on a first-come, first-served basis. The project must be completed by November 15, 2020.
What to do next?
- If you want a complimentary analysis of your lighting and proposal, including rebates, please email us here.
On another note, DHCR registrations and LL84 compliance are due July 31, 2020. Should you want to learn more or have specific questions, you may contact us at:
Robert Sedaghatpour
646-760-9723
robert@stratcoproperty.com
Robert Sedaghatpour is the founder and managing partner at STRATCO. He has assembled a multidisciplinary team of professionals with diverse skills and unwavering commitment to the highest levels of ethics and business conduct. Data scientists, engineers, architects, attorneys, and human-centric designers collaborate seamlessly to develop innovative systems and value propositions that effectively bring incentive programs to the real estate community.
