Several factors go into deciding on the extent of a lighting project, including cost. Lighting rebates can help offset some of the project’s expenses but finding the right ones for the products is often challenging.
To help ensure you get the most out of your LED lighting rebates, it helps to follow the ABCs.
The ABCs of Lighting Rebate Programs
Ask About Lighting Rebates from your Utility Provider
Most utility companies 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.
Before choosing one type of utility rebate over the other, it’s a good idea to see which one covers more of your project and is also the easiest to redeem.
Be Sure to Know Who is Responsible for Submitting the Lighting Rebates
Know who is submitting the rebates before you start selecting products. Some rebates come with complicated processes that can take several months to resolve.
The individual or team in charge of the lighting rebates also needs to ensure the forms are filled out correctly. A wrong address or incorrect product number can invalidate a rebate or set the compensation process back several months.
If your organization does not have the needed expertise to process LED lighting rebates for a large project, we highly suggest utilizing a product neutral LED retrofit company to assist you in your lighting project.
Check if You Need Pre-approval or an Inspection to Validate the Lighting Rebate
Determine if the Lighting Products Qualify for a Rebate
LED lighting rebates often call for 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.
Evaluate Your Estimated ROI on the Lighting Project Using Rebates
Rebates and other financial incentives can dramatically reduce the cost of your lighting project. Typically, lighting rebate programs can reduce overall costs by around 20 to 25%. Including your rebate savings in the project costs will give you a good idea of what your estimated ROI will look like.
Follow the Lighting Rebate Steps
You always want to follow the rebate process, even if it seems repetitive. Most lighting rebate programs have specific requirements for everything from the product to how the paperwork is submitted.
You may also have to go through a pre-approval or inspection process. Don’t skip the step to save time, it will invalidate the rebate.
Get Help from Action Services Group
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.
Contact us today and start planning your lighting project while maximizing your lighting rebates. Call 610-558-9773, email email@example.com, or schedule a call that fits your needs by clicking the button below.