Replacing outdated lighting with LEDs will reduce energy usage, resulting in savings. However, the initial cost of the project is often prohibitive. Taking advantage of lighting rebates can help offset some of the costs. Finding the right lighting rebate programs can be challenging, which is why it helps to follow the ABCs.
The ABCs of LED Lighting Rebate Programs
Finding and filling out rebate forms is time-consuming, but these tips will make it a little easier.
Ask Your Utility Provider About Available Lighting Rebates
Utility companies typically offer three types of LED lighting rebates.
- Point-of-sale-(POS) rebates apply to a specific type of lighting product. The rebate is issued when the customer purchases the product. These are the easiest type of utility rebates.
- Prescriptive rebates typically come as checks in the mail. Instead of being applied directly to the purchase, the check reimburses you the extra cost paid at checkout.
- Custom lighting rebates typically offer larger financial returns, but they also require you to follow several steps. These rebates are typically issued when traditional incentives do not apply to your LED lighting project.
It’s a good idea to research each lighting rebate. Some may cover more of your project than others.
Be Sure to Have Someone in Charge of Submitting the Lighting Rebates
During the project planning stages, you want to place someone in charge of submitting the rebates. Some are simple to submit, while others have a lengthy and complicated process. It can take months for approval with some rebates, it can take time and effort to get through the process.
The individual or team in charge of the lighting rebates needs to be detailed orientated. A single mistake on the rebate form can render it invalid or set the compensation back several months.
Some experience is often necessary and not every company has someone familiar with the rebate process.
There are several reasons organizations come to Incentive Rebate360 to manage their LED lighting incentives and rebates, but one of the main reasons is for a faster lighting payback. Read our latest blog, See a Faster LED Lighting Payback with Rebates, for more details.
Check for Pre-approval Before Starting the Lighting Project
Some lighting rebate programs require pre-inspection or pre-approval. It most commonly applies to utility company rebates, but others may require you to follow the same steps. Apply for these rebates early can help ensure your project starts on time. It can take several weeks for rebate approval.
Do the Products Qualify for a Lighting Rebate?
LED lighting rebates often have different product requirements. Most rebates apply to DLC, Energy Star, CEE, and Lighting Facts, but it’s always a good idea to read the fine print on the lighting products and rebates.
You also want to pay attention to the fixture’s usage and placement. Some complex lighting rebate programs call for exact specifications when it comes to how the fixture is used and where it’s installed. Even a few feet can make a difference with some lighting rebates.
Estimate Your ROI After Using the Lighting Project Rebates
You can reduce overall project costs using lighting rebates. Most consumers save around 20% to 25% on their lighting projects after rebates. Including the rebates in your project costs gives you a better idea of your ROI.
Did you know there are also networked lighting control rebates? Lighting controls can offer an additional 20% energy savings when used with LED lighting. To learn more read our blog on Networked Lighting Control Rebates.
Follow the Steps in the Rebate Process
Rebate programs typically have strict requirements. A misprint in the address can nullify the rebate. These requirements can even extend to how the forms are submitted. Make sure you read the fine print. It can include additional instructions.
Get Help from Incentive Rebate360
Lighting rebate programs can be confusing, and you don’t want to miss a step. We are familiar with lighting rebates and are here to help you through the complicated process.