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Savings Illuminated: Calculating The Cost Benefits Of Switching To LED Office Lighting

If I asked you whether you were keen to cut the costs involved in running your business, I’d bet my bottom dollar that you’d say yes.

Business owners are always looking at ways of saving money while still producing a viable, high-quality product or service.

But did you know that there’s one area where you could save a substantial amount of money and yet many businesses still haven’t jumped on the bandwagon?

I’m talking about LED lighting. Let me break it down for you.

How Much Does LED Lighting Cost To Install?

If you’re looking to save money for your business then one of the first questions you’ll have is how much will LED lighting set you back?

I’ll level with you here; LED installations and bulbs do have a higher initial cost. But, as I’ll discuss in the coming section, they last far longer so you save money in the long run.

How much you pay for your lighting will highly depend on the type of lighting system you go for. For example, if you’re looking for the most simple single bulbs then you can expect to pay in the region of £10 – £20. If you have a small office then this is a perfectly viable method as you can simply replace the types of bulbs you use in your current fixtures.

On the other hand, you might be looking to upgrade to an entirely new LED system.

The cost of this will vary depending on the size of the office, your circumstances and even your location.

However, in the UK, the average cost to install six LED ceiling lights is currently around £300. It is worth noting that the cost of installation may increase depending on the access to the ceiling cavity and other factors but this is something that your electrician will discuss with you.

Does LED Lighting Save You Money?

Quite simply, by installing LED lighting, your business will save money.

It’s reported that, in an office environment, you could stand to save as much as 80% on your current energy bills owing to the greater efficiency of LED light bulbs. Of course, this can vary and in some cases, you may only save 65%; still, that’s an impressive reduction.

But it isn’t only the lower energy bills that will benefit your business’s bank account. While LED bulbs and installations may be more costly up front, they last a significantly longer period of time.

In fact, a single standard LED light bulb could have a lifespan of up to 20 years. Think of how many traditional bulbs you would need to replace during that time and the cost of doing so; it doesn’t take a genius to figure out that the cost would be much higher.

How Long Will It Take To Notice A Financial Difference After Installing LED Lighting?

Now that you’ve made the initial investment in your LED lighting, you’re going to want to see a return on your investment.

Since you could save up to 80% on your lighting bills when using LED lighting, you’ll start to notice changes from the date of your first energy bill.

But what we really want to know is how long will it take before you actually start making money back, right?

Well, this can vary between businesses according to factors like how long the lighting is used for each day, what type of bulbs and system you’re using and many other things.

But, on average, it’s estimated that it could take between two and five years for you to break even. According to experts, office environments that use their LED lighting for extended periods could stand to make more savings therefore, it would take less time to make your money back.

Summing It Up - Is LED Lighting Worth It From A Financial Perspective?

I won’t deny that there are initial costs involved when opting for LED lighting but in the scheme of things, they’re minimal, especially when you consider how quickly you can make a return on that investment.

At a time when energy bills are through the roof, doing things to save money is a must. LED lighting uses far less energy and is much more efficient so you could stand to save as much as 80% on your lighting bills.

I think that figure alone is enough to suggest that LED lighting is definitely something worth considering if you’re looking to improve your finances and spend more wisely for your business.

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