Leapfrog Lighting has arranged a no-down payment financing option for LED lighting installs for businesses. Up to 100 percent of the total install cost can be financed, and businesses are still eligible for any available electric company rebates.
Even though the business case always made sense, the cost of LED lamps is considerably higher than the bulbs they typically replace, says Leapfrog. Many businesses cite the initial costs as the main barrier to entry.
In a typical business case analysis on Leapfrog Lighting’s website, for an install of 100 LED lamps replacing equivalent halogen bulbs in a retail store, the savings per year on energy costs would be $2,906, based on 11 cents per kWh. With the entire cost financed, eliminating the $1,800 (approximate) upfront install cost, and factoring in expected electricity company rebates, the net savings per year still works out to $2,414 annually in this example.
The program is currently only available to Canadian business owners, on credit approval. Leapfrog says a similar program for its business customers in the US is coming soon.