Each year, more and more companies are joining the bandwagon in the newest and best lighting options for their parking lot structures. More companies investing in LED technology. And more companies are completely retrofitting all of their structures to have LED parking lot lights. There’s good reason why this trend is taking over the industry. Not only is it a far superior product, but the savings can be incredibly substantial.
Return of Investment
When conversion is done from traditional lighting structures to LED parking lot Lights, the cost can be very significant. And yet, more and more companies are investing in LED’s. This is because of the high and fast ROI, or return in investment. The energy savings alone can recoup most of what was spent with the replacement or retrofit to LED lighting. There is also a lot to be regained when you factor in state, federal, and utility incentives. Most companies have reported to regain as much as 80 percent of ROI in less than 2 years.
LED Lights Maintenance
LED lights have also gotten the reputation of being long-lasting and sturdy light bulbs. An LED light has a failure rate that can be as low as 1-2 percent over a span of 5 years. This is leaps and bounds better than what traditional lights can offer. Not only is this a better quality product, but it also minimizes the maintenance needs of each parking structure. With previous light fixtures, bulbs had to be replaced as often as once every two to three months.
A Growing Industry
More and more businesses are converting to LED’s. This includes parking lot structures, casinos, markets, fast food franchises, and car dealerships. LED companies are also reporting growth in their industry by as much as 25-30 percent per year. People are getting the information about these kinds of lights, and the benefits definitely outweigh the costs. There is a study that predicts that by 2020, 30-40% of all lighting sales will be LED lamps, and by 2030 70-80% of all lighting sales will be LED’s.
In most cases, companies are looking for a “win-win” scenario where the company and their customers gain from improvements made. But with LED parking lot lights, there is the rare “triple-win” scenario, where the company wins, the customers win, and the environment also wins. This is because of the low environmental impact that LED lights provide. Not only does it save energy, but it is a better quality light with less heat and light pollution given off.
Better LED Lights
When it comes to Parking lot structures, light and illumination is a very important factor. Getting the proper light ensures safety for each customer in terms of visibility. But it also improves the overall well-being and security. This is in knowing that there are no dark spots and dark corners in a parking structure. LED lights provide a uniform light that can be cast over a larger area. This uniformity also provides better vertical and horizontal light, meaning that gravel or floor is better illuminated with these kinds of lighting structures. This kind of lighting provides peace of mind for a business’ customers and employees and that has some great intangible value as well.
Energy Savings in the Short Term and the Long Term
In terms of savings, there are short term savings when it comes to energy consumption, but the greater savings can be taken from the life cycle and life expectancy of LED lights. LED lights have a life expectancy of somewhere between 50,000 to 80,000 hours. As compared to florescent lights that have an average lifespan of 10,000 hours. And incandescent lamps which only has an average life expectancy of 5,000 hours. Replacement and maintenance of these kinds of lamps can be significant in the long run, and savings you can get from LED is very substantial.
Lighting Industry Take Over
More and more companies are taking the incentive to convert to LED lights. According to a recent report by the department of energy, in the next 20 years there could be huge savings. The conversion of LED lights from traditional lights could save the US a staggering $120 billion in energy savings alone. This also reduces the electrical use by more than a quarter overall. The conversion can also remove close to 250 million metric tons of wastes (mostly carbon emissions).