Helping you Switch to Energy Efficient Lighting
With a cold snap arriving in the UK, many of us might be making snap decisions to spend time indoors. For retailers this is one of the times of year that offers an opportunity to entice customers off the street and into warmer surroundings. As far as retail experiences go, a welcoming premises cannot be replicated by online shopping – but what if you were able to improve the aesthetic of your store, for both staff and your customers, whilst at the same time reducing your operating costs?
Upgrading to LED lighting systems does not only offer improved efficiency, but it also provides the opportunity for flexibility in light colour to set a particular scene in-store and bring out particular colours more vividly than is possible with older fluorescent lighting. Dimming can be a useful strategy to vary the look and feel. At the same time, the right design is essential to ensure lights are in the right place and emphasising the most important aspects of your space.
Lighting controls are another great way to reduce costs from fittings that don’t need to be on all the time. Data from British Gas in 2012 found that 46% of the energy consumed by SMEs happens outside working hours, after staff have gone home.
Making the Switch
Over the past few years, more and more companies are making the switch. One such example was the upgrade conducted by Clickers Archery through the Business Energy Efficiency Anglia programme. By installing LED panels to replace fluorescent fittings across their retail space, warehouse and lobby, the Norwich-based sports retailer were able to reduce their electricity usage by nearly 2,000 kWh per year, enabling a payback of just over 3 years against their upfront upgrade cost of £875.
There has never been a better time to upgrade to LED lighting, but ensuring quality in products and installation is key to delivering the energy savings and not all lighting products are created equal. When done well, LED lighting can provide a quick return on investment and in some cases, pay back in under 3 years. However, the Grocer’s highly successful Switch the Lights Campaign in 2016 found that 71% of independent retailers were put off by the upfront cost.
The Premium Light Project
The Energy Saving Trust, through the Premium Light Pro project, will be running a series of training and support events for retailers and SMEs, in March 2019. The project, funded by Horizon 2020 aims to help businesses access the major energy and carbon savings potential from moving to efficient lighting. Across the nation, savings from lighting really add up. Even if each of the UK’s 280,000 retailers changed just two fluorescent tubes to LED equivalents, we’d save over £8 million per year on electricity costs.
The workshop also includes a short classroom session with an expert trainer from the Lighting Industry Academy to provide you with the information you need to oversee the right lighting for your business. Some training sessions will include a demonstration tour, bringing to life the benefits of quality products and showing how controls can add to the savings.
If you are considering a lighting upgrade to your store, the free regional workshops can help. Starting with a business breakfast, the half-day sessions will outline the support resources available, including a guidance brochure explaining technical lighting terms, quality checks and design and procurement criteria that can be used in tenders. We’ll also cover some of the funding options available, including equipment loans from Bira Bank.
Bira Bank can help finance the upfront cost of replacing your business’s lighting, our equipment loan rate is at just 3.3% flat rate (6.4%APR) for a loan term of 36 months or under. Save money on your energy bills and improve the aesthetics of your business without the upfront cost of upgrading your system by spreading the cost over 12-60 months to a value of £2,500-£250,000.
To find out more about these workshops, register your interest on the events page below. Bira Bank offer a finance solution for retailers looking to upgrading their lighting. If you’d like to find out about how we can finance the switch to LED lighting visit the equipment loans page below or call 0121 446 5588 and speak to David or Frank today.