Beginning an LED lighting retrofit project isn’t easy. It requires knowing all of your variables, then determining a budget.
We created our energy savings calculator so you have an understanding of the basics around lighting retrofits.
As you probably noticed above, you need several pieces of information to get started. Gather these before you begin using the lighting retrofit calculator:
Once you’ve entered all of your information, here is what you can expect from our energy savings calculator:
We created our energy savings calculator so you have an understanding of the basics around lighting retrofits.
As you probably noticed above, you need several pieces of information to get started. Gather these before you begin using the lighting retrofit calculator:
- Original wattage per bulb
- Replacement wattage per bulb
- Number of bulbs replaced
- Cost of energy
- Daily “on” hours
- Annual “on” hours
- Initial cost of upgrade
Once you’ve entered all of your information, here is what you can expect from our energy savings calculator:
- Simple payback: how long it will take to earn back the initial cost of the upgrade. This is a high-level look at the outcome of your project.
- Simple annual energy savings: How much energy a lighting retrofit would save in energy over the course of a year. This is expressed in kWh.
- Energy cost savings: The calculator takes the simple annual energy savings and multiplies it by your cost of energy. This gives you a better idea of how much you could save per year after completing the project.
- Rate of return: Our calculator is built to give you a first-year rate of return on your project, expressed as a percentage. So, if your retrofit project costs $20,000 up-front and you save $1,000 on energy every month after its completion, your rate of return would be 60 percent, as you would have made back $12,000 in savings, which is 60 percent of the upfront cost of the project.