4/30/2014<< Back to Facilities Management Press Releases Home
Hubbell Lighting Launches Upgrade Program; LED Lighting Can Raise Net Operating Income By 3 Percent
Initiative Allows Property Owners to Project Energy Savings through Retrofits, Then Validate those Estimates with Sample Products in 90-Day Trial
Company Couples Commercial Building Lighting Program with Cash Flow Positive Financing Solution
Greenville, SC – Commercial buildings represent over 80 billion square feet of space in the U.S. and consume 36% of all electricity, making them one of the largest generators of greenhouse gases. Hubbell Lighting has announced a new solution to cut electricity costs, enhance the quality of light and reduce the financial risk of upgrades–resulting in up to a 3% increase in net operating income while at the same time improving the property value and attractiveness for tenants.
The initiative, called createchange® consists of two innovative offerings from Hubbell Lighting:
· First is a suite of unique audit tools and other product selection resources, implemented shoulder-to-shoulder with Hubbell Lighting consultants. These allow building owners to precisely forecast the economic impact of various lighting retrofit strategies and also identify any utility rebates that are available.
· Second is the solution called “Compare in the Air,” where Hubbell encourages customers to validate those cost saving estimates in the building, selecting and installing up to four Hubbell Lighting products and monitoring the results for up to 90 days. After that trial customers can decide to keep the products or return them for a full refund.
“In commercial buildings, lighting is the easiest and least costly energy consumer to upgrade,” said Scott Muse, President of Hubbell Lighting. “Our createchange® program offers property owners as close to a guaranteed savings as exists. First, we become teammates in forecasting how new and efficient lighting technologies will improve the quality of illumination and dramatically cut costs. Then we work with you to test those projections and experience the new lighting system by installing samples of that technology, monitoring the results over the course of up to three-months and validating the forecasts.”
The createchange® program includes a comprehensive evaluation of the building, including office areas, halls, conference rooms, atriums, lobbies, restrooms, exteriors, parking garages and lots, and mechanical rooms. New lighting and control devices can dramatically reduce energy and maintenance costs. For example, in a 150,000 sq. ft. building that operates 24 hours a day, simply changing out 150 hallway 75 watt incandescent downlights to Hubbell Lighting’s LED fixtures will save a building owner almost $27,000 a year.
“The createchange® program for commercial buildings is even more powerful when coupled with our Cash Flow Positive program,” added Mr. Muse. “With a simple approval process, we will fund your entire lighting and controls upgrade; including all products, installation and project-related materials and services. Even better, wherever possible, we will structure the financing to ensure that energy cost savings are greater than monthly financing costs, which means most building owners will experience an immediate positive cash flow.”
With Hubbell Lighting’s Cash Flow Positive program commercial property owners can receive no down payment, 100% fixed rate, long-term financing usually approved in 24-48 hours that does not impact existing lines of credit or hinder their ability to borrow in the future.
“We are in a situation today where the economic advantages of new lighting technologies are a given,” added Muse. “We now need to spur adoption. That is why createchange® is so important.”
To learn more about Hubbell Lighting’s createchange® program for commercial buildings, visit www.hubbelllighting.com/solutions/retrofit/applications/.
About Hubbell Lighting
Hubbell Lighting is one of the largest lighting fixture manufacturers in North America. The company provides a full range of indoor and outdoor lighting products serving the commercial, industrial, institutional, and residential markets. Hubbell Lighting brands include Alera Lighting, Architectural Area Lighting, Beacon Products, Columbia Lighting, Compass Products, Devine Lighting, Dual-Lite, HomeStyle Lighting, Hubbell Building Automation, Hubbell Industrial Lighting, Hubbell Outdoor Lighting, Kim Lighting, Kurt Versen, Prescolite, Progress Lighting, Security Lighting, Spaulding Lighting, Sportsliter Solutions, Sterner Lighting Systems, Thomasville Lighting, and Whiteway. Hubbell Lighting: one name, distinctive brands, limitless lighting possibilities. For additional information, please visit www.hubbelllighting.com and follow Hubbell Lighting on YouTube, Twitter and Facebook.