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Important Factors You Need to Know about a Payback Calculator

Moving towards renewable energy sources has been a very healthy trend over the last few years, which is here to stay. Energy savings, reduced heat, reduced energy bills, and long operational life of lights are some of the main objectives behind using energy efficient lighting. Governments of various countries have played their role too. In most countries, such as the US, you get rebates upon using energy-efficient lighting systems and upgrading them. Of course, there are too many variables in this, which decide if you are entitled for the rebate and how much will you get. In such cases, using a payback calculator on the web page helps you find out the answers. This post discusses the details about payback calculator, the factors that go into calculating the rebate, and how to calculate your energy savings.

What is a Payback Calculator?

A payback calculator is a tool that helps you calculate your energy savings and if you are eligible for a rebate. Having such tools on your website definitely encourages people to switch to energy-efficient lighting systems. Also, it is easy to use. All you have to add is fill the information required with all the correct values.

Functionalities of a Payback Calculator

The payback calculator works on three aspects: lighting systems in your house or facility, usage, and the electricity rate in your area. It basically tells you the time you would require to recover the amount you have invested in changing your lighting systems. It works this out in three parts:

  1. It compares the existing lighting system to the required lighting system.
  2. It captures customer information such as location and respective utility providers.
  3. It calculates the payback summary and generates a report.

How to Calculate Your Energy Savings?

There are a number of factors considered when calculating your energy savings. It is not just about the lights but also about fixtures, sockets, and other relevant aspects. The information here is sought in three parts. In the first part, it collects the current information:

  • Existing fixtures
  • Existing light type
  • Number of hours the lights are on or in use per year
  • New or replaced fixtures
  • Replaced light types
  • Quantity of replaced lights
  • Product specs
  • Product price

In the second part, you need to fill the information about your facility or home including the address. This includes the following fields:

  • Facility postal code
  • Available utilities
  • Rate of electricity in the area

The third portion contains the payback summary. This includes the following fields:

  • Equipment cost
  • Annual savings per kilowatt
  • Utility rebate based on the postal code
  • Time to payback
  • Time to payback with utility rebate

Payback Calculator Detailed Report

At the end of this form, you have a Get My Full Report button. You can click on it to get a detailed report on your email id in a .pdf format. This report contains a complete savings summary. There are two separate sections of payback with rebate and payback without rebate. The report also contains the environmental impact of the energy saved because of this project. In the end, you get the project scope, which compares the existing and new fixture and light types along with their quantity and wattage, and you can see that the wattage reduces when you shift to energy-efficient light systems.

If you are looking for an efficient lighting system, ensure you approach reliable manufacturers and suppliers. E2 Lighting USA is a renowned manufacturer of superior-quality and environmentally friendly LED indoor lighting solutions. They comply with the ROHS norms and are known to provide energy-efficient solutions. They also have a payback calculator on their website, wherein you can calculate your energy savings. Additionally, you can receive the report in .pdf format through email. E2 Lighting USA is committed to spread awareness about energy saving.

By |2019-07-11T12:53:19+00:00July 11th, 2019|Comments Off on Important Factors You Need to Know about a Payback Calculator