More companies each day, it seems, are jumping on the bandwagon of LED lights.
And why not? The ROI appears very high, especially with state, federal and utility company financial incentives, and wasted staff time spent changing burned out incandescent and florescent lights can be nearly eliminated.
With an LED light failure rate that can be as low as 1 percent over a five-year period, companies like Greektown Casino-Hotel, Nino Salvaggio International Marketplace, JK&T Wings Inc., a franchisee of Buffalo Wild Wings, Erhard BMW and, most recently, MGM Grand Detroit are converting.
For the Aug. 19 issue of Crain's Detroit Business, I wrote about the fast-growing trend of LED lights and how Lexicon Lighting Technologies, a Shelby Township-based manufacturing company, is growing at a 30 percent annual clip.
I didn't have space on the page to get into some of the really good stuff. For one, I wanted to describe the real-life experiences companies have when they purchase and use LED, which stands for light-emitting diodes. Besides saving money on electricity costs, executives talked about improved employee efficiencies, enhanced customer satisfaction and how they are contributing to worldwide environmental protection.
I mentioned in my story that as prices drop, as they have been, the use of LED lamps will account for 36 percent of all lighting sales by 2020 and 74 percent by 2030, a federal study said.
Over the next 20 years, the conversion to LED could save the U.S. $120 billion in energy costs, reduce electricity use by 25 percent and eliminate 246 million metric tons of carbon emissions, said a 2010 U.S. Department of Energy report.
So, here, as Paul Harvey used to say, is the rest of the story.
The Michigan Chamber’s LED Lighting program is a practical, long-term solution to reduce your facility electric bills, save on maintenance time and cost, and make a positive imprint on the environment.
The Michigan Chamber’s Utility & Telecom Savings program can help you to identify other ways to save money on your utility and telecommunications bills. Through our program, we are able to perform a thorough analysis of your utility billing, leading to past financial recovery and ongoing monthly savings.