One of the biggest complaints/issues we get with prospective LED Lighting buyers is the price. Compared to other forms of lighting sources LED is on the higher end. Even though LED lighting offers an incredible amount of benefits compared to other sources such as cost savings, reduced maintenance and higher quality of light. The price tag still is always the number 1 or 2 aspect the buyer takes into consideration.
CenterPoint Energy saw this problem and decided to address it. Over the last couple of years CenterPoint Energy has begun offering incentive programs to businesses who are purchasing equipment and technology to make their office/building more energy efficient. Lucky for us and you, LED lighting falls into this category. Included in the eligible measures of the program is lighting retrofits and lighting controls.
So, let’s dive into this program a bit more and see how it can help your business with its new LED lighting project.
How the program works for LED Lighting
In 2015 CenterPoint will provide this program with $7M to be utilized starting January 5th. This comes on a first come first serve bases and unless additional funding is added is the total amount the program will get throughout the year. This makes it important for businesses to set up their projects as fast as possible at the beginning of the year to make sure they can benefit from program. These incentives typically cover around 20-35% of the projects total value.
The benefits that are offered
How the program works is that the more you save with your energy consumption, the more you are rewarded. This is what drives the program and is utilized to make a more energy efficient business community.
So with your new energy efficient LED lighting project you are offered a few benefits through the program. Once your project is approved you become available to receive cash incentives, application assistance, technical support and training opportunities. These aim to make your project easier on you and your wallet.
Incentive measurements and rates
Above you can take a look at the CenterPoint Energy incentive rates for implementing improved lighting. According to the graph above for every KW you save from your new lighting source you will receive either $105 or $180 in cash incentives. This depends on if it is either screw in or non screw in. You will also will receive either $.03 or $.07 in incentives for every KWH you reduce by. This begins to add up quite nicely due to the amount of energy savings LED lighting offers.
Finally, who is eligible
The great part about this program is that it can be used for both small and large commercial projects. As long as the small commercials projects do not exceed certain KW levels and the large commercial meet the minimum KW requirements, their project will be eligible.
Other eligibility requirements include that the project produces measurable peak demand/energy savings, approved persistence, exceeds minimum efficiency standards and must be permanently installed.