Is Any Business Vertical More Conscious of Money Than a Bank or Financial Institution?
While it may sound cliché, focusing on energy savings and optimal budgeting is paramount for banks, as costs are on the rise and proactive planning is becoming more essential than ever. LED lighting upgrades previously displayed ROI in the 3-4 year range. Now, properly-budgeted LED retrofits can yield ROI ranging from six to 18 months! Let’s take a look at important factors in energy management optimization and LED retrofit savings for banks.
5 Reasons Why LED Retrofit Savings are Stronger and More Optimal Than Ever Before
- Material Cost Reductions: In yesteryear, bank LED projects were very costly, often yielding long ROIs and high-ticket budget items. With material development comes cost savings. Projects now yield better lighting technology results and stronger ROI.
- Elite Warranties: When LED debuted, some warranties were one year and three years — a 5-year warranty was rare. Now, industry-leading manufacturers offer 10-year material warranties to promise an optimal long-term investment.
- Ballast Removal: In the past, LED technologies still required use of ballasts or drivers. Now, LED lighting offers ballast removal, creating one failure point and material savings that foster much stronger ROI for your bank facilities.
- Maintenance Savings: With better technology and ballast removal comes immense maintenance savings. Older lamp technologies ranged from 3,000 to 25,000 burn hours. Now, many LED lighting solutions have a rated life of 50,000 to 100,000 hours or longer, fostering maintenance savings for years to come.
- Multiple Options: Customize LED retrofits to the needs of your banks. Now, you can replace fixtures entirely, retrofit existing fixtures without compromising architectural integrity, and cater LED lighting solutions to both your budgetary and aesthetic needs.
Select a True LED Lighting Expert to Manage Your LED Projects from Start to Finish
Have you ever read about someone offering a turn-key project solution, only to find out that you, the facility manager, end up running portions of the project for your banks? That’s likely not what you signed up for nor what you were promised. It’s imperative to select a lighting retrofit company that provides:
- Detailed energy savings analyses
- Thorough LED lighting survey assessments
- Utility rebate support to maximize ROI
- Project management for all of your banks, not just some of them geographically
- Multiple LED solutions to cater to your preferences and budgets
- Weekly meetings to keep projects on point, on budget, and detail oriented for success
CLS Facility Services has managed more than 12,000 lighting retrofit projects in the past 15 years and more than 8,500 lighting retrofit projects for financial institutions. We understand what it takes to provide elite project management, cost-efficient solutions, and ROI that make your finance teams smile.