BriteSwitch helps businesses across the United States and Canada to pinpoint and apply for utility rebates and tax incentive programs which will help them to save money. Regency has worked with BriteSwitch to help customers through the oft-difficult and tedious application process for such programs and lighting rebates.
This post was originally published on their website.
1. Wait for the green light
Did you know a majority of rebate programs require pre-approval before new materials are purchased? This pre-approval process takes 29 days on average and usually includes paperwork, inspections, spec sheets, technical reviews, etc. Purchasing or installing lights before you have official pre-approval can result in missing out on the money.
2. Not all products are the same
Rebate programs usually have specific requirements as to what type of products qualify. Equipment that is OK in one location may be ineligible in another one just a few minutes away. Popular requirements are DLC, Energy Star, CEE and Lighting Facts. It’s not enough if the spec sheets have the DLC or Energy Star logo, the product must be on the current list. Sometimes, by spending a little more money for a premium product you qualify for generous rebates.
3. One size does not fit all
Small business, direct install, custom, prescriptive, upstream, midstream, downstream… there are many different types of incentives for commercial lighting. You have to investigate your options to choose the one that gets you the most money. Sometimes, it’s even possible to layer different programs on top of one another for an even higher incentive. See how one customer received 3 times higher rebates by choosing the best program.
4. It can be hard work
Getting the funds from the organizations isn’t always as easy as you think. It can take 5-6 months to complete the rebate process. During this time, there’s a lot of correspondence and work with the rebate administrators. Each year, rebate programs handle thousands of applications, so it’s easy for yours to be lost or mishandled. You have to stay on top of it to make sure you get the money. Popular issues include wrong addresses, a different product being installed, and missing approval deadlines.
5. They can add up to big money
Rebates and incentives help reduce the initial upfront cost of lighting projects. Typically, they improve the payback time by 20-25%. In fact, looking at all the jobs BriteSwitch has worked on, the average payback was less than 2 years after taking advantage of all the possible incentives.
*This post was originally published at BriteSwitch.com. The information found in this post is not proprietary to Regency.
For more on maximizing savings, check out the articles below:
- Show your work: The plain truth behind lighting retrofit savings
- A glance at some of the best lighting rebates in the country right now
