How It Works

UPGRADE TO LED LIGHTING TODAY – IT HAS NEVER BEEN SO EASY!

LED Lighting offers a unique opportunity to significantly reduce your energy consumption. Lighting accounts for up to 40% of a building’s electricity consumption(1). Moving to LEDs from conventional light sources such as fluorescent, high intensity discharge and halogen, can achieve substantial cost savings. In fact, your lighting energy bill could typically be reduced by as much as 40 – 60%. Adding lighting controls can increase these savings even further.

Some businesses and organisations may not be able to make the capital investment to access these savings. For others, the priorities for capital investment may be geared towards business growth. But whatever the obstacles may be, there is now a solution – finance leasing.

Established lighting manufacturer ITAB Prolight and expert finance provider, CF Capital plc, can offer personalised solutions so that any business can realise the benefits of switching LED lighting today by leasing – or renting – your lighting. So no upfront costs and a raft of other benefits.

(1 – Source: Carbon Trust)

HOW FINANCE LEASING OF LED LIGHTING WORKS

SURVEY & DESIGN

ITAB Prolight are experts in the field of lighting manufacturing and proposing the best lighting solution for you. Our experienced field engineers will visit your site to assess the existing installation and measure current lighting levels. They will also discuss your requirements in detail. We then carry out a full, professional design. Our team of qualified lighting design engineers will ensure that all proposals comply fully with the requirements of EN12464-1:2011, the SLL Code for Lighting and all best practice guidelines.

ANALYSIS

We carry out a Total Cost of Ownership analysis, comparing the existing installation with that proposed. Firstly we analyse the quality and cost of the lighting. This will include usage hours, electricity tariffs, lamp replacement and other maintenance costs. As a result we can project the annual savings and payback period achieved by changing to LED lighting. So you can see how much money you will save!

PURCHASE OR LEASE

Following the design and analysis we will produce a full, written quotation for the new lighting and provide an explanation of what we are proposing. Once you are happy to proceed you can, if you prefer, purchase the lighting outright at the prices quoted. Alternatively, if you would prefer to lease the lighting, we will introduce you to finance lease specialists CF Capital plc. They will prepare a personalised illustration which will include the payment term and fixed monthly cost of rental.

INSTALLATION

Once you give the go ahead we arrange delivery of the product. If you want to include installation in the leasing agreement, this can be included in the lease illustration. If you wish, we can recommend an electrical contractor to carry out the work. Once installed, you start making savings immediately. CF Capital will organise the lease payment terms.

MAINTENANCE

ITAB Prolight operate to very high quality control procedures. Very occasionally products may fail prematurely. We therefore offer complete peace of mind by providing a full  warranty throughout the lease period, for up to 5 years (emergency lighting 2 years). We will replace or repair the luminaires completely free of charge.

TECHNOLOGY UPGRADE

At the end of the leasing agreement, you have the option to take advantage of the continual improvements in LED efficiency and upgrade to the latest technology, by arranging a further lease agreement. Consequently, this removes any worries of using redundant technology. Simply trade up to the latest, most energy efficient products available with continued full warranty.

EXAMPLE LED LIGHTING UPGRADE PROJECT

Here is how it works, based on a real lighting project – an outlet of a national retail chain.

Annual savings using LED lighting = £10,713. This offers a monthly saving of £892.75

Project payback period (Capital costs / annual savings) = 4 years

ILLUSTRATION OF TYPICAL MONTHLY LEASE COSTS FOR THIS PROJECT

* This example is indicative only. Every project is unique in terms of existing and proposed lighting, lighting requirements, hours of operation and maintenance costs. A personalised illustration is provided for each project. All quotes exclude VAT and are subject to credit approval.

# This is based on the current rate of Corporation Tax of 19%. Under current plans this reduces to 18% in 2020. This may change with future Government Budget announcements, which will affect the potential saving. The potential saving shown assumes the current rate of 19% throughout the lease period and that your business is making profit. Please consult your accountant for more details.

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