Andrew Chicken of the Tenant Advisory Group says that businesses that replace their ageing fluorescent tubes with an LED alternative, could reduce the cost of running their lighting by 70% or more
According to Chicken, “The LED tube lasts five times longer and there is no warm up time either.” He also points out that there are some less obvious benefits from changing to LED’s, “the quality of lighting is improved and as LED’s do not flicker, staff are less likely to suffer from headaches.”
A 100% enhanced capital allowance is now available to help with the installation of LED lighting, so even if you finance the installation, your first year’s repayments are likely to be covered, even before you take into account the reduced cost of electricity and maintenance.
Chicken estimates that some 24 hour, 7 days a week operations could achieve returns of more than 50% per annum on their investment, “even with interest added, you should be able to save money and carbon from making the switch.”
Did you know…?
…Interest free loans for SMEs from the Carbon Trust have now been withdrawn in England and will be replaced by the Energy Efficiency Finance Scheme. No other information has been released as yet, except that the replacement scheme is backed by Siemens Finance who will charge a ‘commercial rate of interest’. If you are in Northern Ireland or Wales the Carbon Trust interest free loan is still available so if you need some finance in this area, apply while you still can.