Most condominium boards want to make the right choices for their communities, including saving money where ever they can. Sometimes it seems like there is no possible way to trim expenses as costs just seem to go up and up. Wait a minute! Up?
That’s right, look up. Is your community still using traditional light bulbs? Replacing them with energy efficient LED bulbs will reduce your power consumption and save your corporation money in the long run. But before you run out and order new bulbs for the entire building, you need to know a few things. Let us help you shed some light on the options.
- The Benefits are Clear:
LED, an acronym for light emitting diodes, is a type of lighting that has many positive features. It is the most energy efficient, the cleanest and the most eco-friendly lighting available. LEDs use 75% less energy than traditional bulbs. Lasting from 30,000 to 50,000, they produce less heat and are more efficient. They turn on immediately, unlike energy efficient bulbs of the past. Their light is much more precise with flexibility to provide light more directionally.
- Look Past the Initial Cost
At first glance, replacing your bulbs with LED lighting will seem like it is a more expensive option. There’s no doubt about it, LED bulbs cost more. But you must consider your savings over time. Since they use much less energy, LED lighting will save money on your electrical bill. Of course prices vary depending on many factors, but consider this example. Say a traditional bulb costs $6 and almost $90 to power it for a year. By contrast, the LED bulb may cost $45, but cost $10.50 to operate for the year. That’s a saving of more than $40 per year per bulb. Additionally, traditional bulbs have a lifespan of about 2,000 hours, probably less than a year in a building that has the lights on for 10 hours per day, and most condos have the lights on longer than that. The LED lighting investment will have a warranty of three to 10 years.
- Not all LEDs are Created Equal
Be a wise shopper when selecting your bulbs. You may find those that are five or ten dollars less, but is quality being sacrificed to bring you those savings? How can you know if the bulbs you are purchasing are purchasing are good quality? It’s not as hard as you may think. Be sure to look for bulbs that have Energy Star® ratings, or UL-listed name brands. You’ll also want to stick with companies that are well-known and have reputations for excellence such as GE, Phillips, CREE, Sylvania and TCP. These will be the providers of the bulbs with the best quality and longevity.
A professional property management company will be able to help your community develop cost-saving strategies in many areas of your operations. Starting with LED is a simple fix and an easy way to begin. Talk to us about how we can help. Contact FirstService Residential
, Alberta’s condominium property management leader.