As a nation, we’ve been doing well with energy savings, but a proposal made earlier this month by the Department of Energy suggests a possible rollback of energy conservation requirements. It is currently open for public debate.
As a multifamily property owner, does this suggest you should go back to using incandescent light bulbs in your units or stick with energy-efficient LEDs? We believe LEDs are a good idea for you, for your residents, for your net operating income, and especially for the planet.
Between now and 2025, consumers would lose at least $12 billion each year in electricity bill savings, amounting to about $100 per household per year. LED bulbs can be purchased for $7 each at retail pricing, and at approximately $1 wholesale. These bulbs also can last for 50,000 hours. Many of us will retire by the time they need to be replaced! In an average unit, the bulb will last 17 years if on 8 hours a day.
Energy saving appliances, bulbs, and showerheads seemed like an inconvenience when first introduced, but with a warming planet and rising utility costs, your residents are now looking for and expecting to find these investments made at your properties. As with many innovations, the cost of these items continues to drop dramatically. That $1 light bulb will keep a home cooler, make residents happier, and make a huge improvement in your property’s utility bills. It will also keep you off a ladder.
According to Lawrence Livermore National Labs, this rollback would also add 540 million extra tons of greenhouse gases released into the atmosphere by 2030.
Regardless of what happens with the regulations, energy efficiency should be a top priority for all multifamily owners and residents.
Check out some of our favorite energy efficient lighting products.