Uses Rebates and Incentives Program to Lower Costs to $1 Per LED Lamp

(New York City)—LED Source®, the leading North American LED lighting solutions provider specializing in architectural, entertainment, and retrofit applications, has recently completed a major commercial project in the New York City area at The Chatwal, a Luxury Collection Hotel located in the heart of Manhattan’s Theatre District. The project is part of a larger company initiative, led by Rick Lindemann, business development manager for the East Coast, to target all hotel properties throughout the greater New York City area that could benefit from an LED lighting upgrade using the company’s Rebates and Incentives Program.

The LED lighting retrofit project involved replacing approximately 1,300 lamps in 80 rooms of the hotel as well as the hallways and common areas, and will result in the reduction of more than 410,000 annual kilowatt-hours, equating to a 90 percent reduction in lighting energy savings. As a Con Edison Market and Energy Star Partner, LED Source was able to navigate, identify, and acquire the available rebates, resulting in a cost per LED lamp of only $1 for the client. It is estimated that The Chatwal Hotel will save $124,255 in the first year alone.

“The Chatwal will notice significant reductions in their energy use and maintenance costs right away”, said Lindemann. “Our new Rebates and Incentive program aids clients in finding available dollars to offset the costs of their LED lighting retrofit. In many cases building owners will see their project pay for itself in a matter of weeks to months. In addition, companies using our LouMan Money 100% Project Financing will be able to maximize their cash flow with nothing out of pocket.”

The LED lighting industry has experienced tremendous growth over the past five years and will continue to grow due to rebates and incentives being offered by utility providers and the government. LED Source® participates in several incentive programs offered by some of the largest utility companies in the country, including those by Con Edison in New York, Commonwealth Edison in Illinois, Pacific Gas and Electric in California, and Duke Energy in the Southeast. To date, the company, including its franchise locations, has saved businesses over $500,000 with rebates.

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