40,000 Sq Ft Condominium / Garage LED Retrofit Savings Report
| PROPERTY HIGHLIGHTS | |||||
| Property Type: | Condominuim/ Garage | City, State: | Philadelphia, PA | ||
| Square Footage: | 40,000 | Lighting Savings | 77% | ||
| Current Lighting Cost (per sq. ft.) | $2.07 per year | LED Lighting Cost (per sq. ft.) | $0.49 per year | ||
| SAVINGS REPORT | |||||
| Annual | Lifetime* | ||||
| Current Lighting Electricity Cost | $82,935 | $1,206,705 | |||
| Projected Lighting Electricity Cost (LED) | $21,162 | $307,910 | |||
| Electricity Cost Savings with LEDs | $61,773 | $898,795 | |||
| Additional Operating Savings: | Annual | Lifetime | |||
| Bulb Replacement Costs (~5 cycles) | $3,269 | $34,747 | |||
| Maintenance Labor Costs (Using Average of $.05/sqft) |
$2,000 | $10,000 | |||
| Reduced Air Conditioning Load (Avg. of $.03 for every dollar saved on lighting) |
$1,853 | $55,596 | |||
| Total Additional Operating Savings | $7,122.67 | $100,342.26 | |||
| Total Savings with LEDs | Annual | Lifetime | |||
| $68,896 | $999,137 | ||||
| *Lifetime based on 80,000 hour lifespan and annual increase in energy costs of 3% | |||||
| COST ANALYSIS | |||||
| Cost of LED Bulbs | $204,420 | Payback in Months | 41 | ||
| Installation Costs (est. 15%) | $30,663 | Return on Investment | 29% | ||
| Total Estimated Cost | $235,083 | ||||
| Monthly Cash Flows | |||||
| FINANCING OPTIONS | Financing Cost | Savings w/LED's | Net Cash Flow | ||
| 36 Months @ | 6% | ($7,152) | $5,741 | ($1,410) | |
| 60 Months @ | 6% | ($4,545) | $5,741 | $1,196 | |
| Savings Share Program | ($3,346) | $5,741 | $2,395 | ||
| (based on 65% of monthly savings) | |||||
| Monthly Net Savings w/ highest cash flow option | $2,395 | ||||
| BONUS INCENTIVES | |||||
| EPAct Federal Tax Deduction ($.60/sq ft) | $24,000 | ||||
| Property Value Increase (10% Cap Rate applied to reduction in operating costs) |
$688,955 | ||||
| EcoAdvantage: CO2 Emissions Reduction (lbs) (13 lbs of CO2 for every dollar of electricity saved) |
8534448 | ||||
| ACT NOW! | |||||
| Daily Cost of Waiting | $188.75 | ||||
| Monthly Cost of Waiting | $5,741.30 | ||||