Low-Cost Options for LED Lighting

One of the options for reducing your property’s energy budget—and helping to improve the Energy Grade that the City gives it—is to replace existing lighting with LED bulbs. And there are currently numerous incentives being offered by ConEd and other entities to help offset the cost of converting to LEDs.

Increasing your building’s energy efficiency will not only help avoid future fines, as New York City implements the increasingly stringent rules of its Climate Mobilization Act, but will also add value to every apartment, as buyers look to own in those properties that can demonstrate a commitment to sustainability and reducing their carbon footprint.

As one of the easiest and least costly ways of addressing energy efficiency, converting to LED lighting should be part of your building’s sustainability initiatives.

Rebate Programs and Free Offers For Energy-Efficient Equipment

At DEPM, we are always looking for ways to help our properties save money. We have been working with Con Ed and National Grid, who offer a wide variety of rebates, discounts, and refunds for installing energy-saving equipment. Right now there are incentive programs for energy controls, efficient boilers and burners, hot water heaters and more. In many cases, the utility will actually provide and install products—such as lighting and control valves—that will conserve energy, completely free of charge.

In one of our properties, a rental complex in Queens, we have signed up to receive free thermostatic radiator valves, which will be provided and installed at absolutely no cost. With 1500 units in the complex, and an average of two to three valves per unit, this represents an enormous up-front savings of around $375,000! Not to mention the reduced fuel consumption that these valves will result in, since they will allow residents to turn the heat down if they experience overheating, instead of opening the windows and wasting precious energy.

Other conservation incentives include low-flow showerheads and faucet aerators, “smart” power strips, and LED lights. Some buildings are eligible to receive these important energy-saving devices at no cost for individual units. Others, depending on building size and location, may be eligible for free high-efficiency light bulbs for common areas as well.

Replacing traditional lighting with high efficiency bulbs can save your building thousands of dollars. You may be eligible to receive free energy-efficient lights, showerheads or other equipment through Con Ed and National Grid’s rebate programs.

Because these programs are constantly changing, depending on funding, building size, and location, it’s difficult to know what is available and who is eligible. To understand the programs offered, and expedite the paperwork required, you really need to speak to the experts. Your Douglas Elliman Property Manager can help your building navigate through the often complicated and confusing process of finding and qualifying for these ever-changing incentive programs. Ask your Managing Agent how your building can make some of these improvements, protect the environment, upgrade systems, and save on fuel bills. We are already beginning to schedule free equipment installations in some of our buildings, that will result in very welcome savings on electricity and gas costs.