Most businesses know that LED lighting is a better technology and understand the efficiency and cost savings. The problem is that LED can be expensive and most businesses don’t have the cash up front to pay for these expensive projects. We offer a fully array of financing options to our clients. SPEC Tech is also an Alliance Partner with Constellation Energy and thus we are able to provide on-bill funding. Our clients have the ability to pay for the project out of the savings found in their energy bills after the project is complete. This means that less money, if any at all, is spent up front.
Spend Less, Don’t Settle For Less
When you’re paying for a lighting project up front, the temptation to buy an inferior product to save a few bucks can be a strong one. When a business uses the LaaS model, they don’t have to worry as much about the upfront costs and can, instead, focus on the long term ROI which means focusing on quality and effectiveness of the chosen solution.
As with any financing solution, the best option is the one that works best for your business. SPEC Tech offers a full array of financing options that allow businesses the flexibility to choose what works best for them. When coupled with our large list of manufacturer relationships, it’s easy to see how we can assist just about any business in any situation. SPEC Tech is an Alliance Partner with Constellation Energy and thus we are able to provide on-bill funding. This program has no loan documents, no securitization of product, and no debt. Our true Lighting As A Service program allows third party organizations to pay for the project and maintains the system on-going. A service fee is paid by the customer, which starts at about two-thirds of the energy savings initially and then transitions such that the customer keeps 90% of the savings. As the products reach end of life and need to be replaced, the third party pays for new product and installation. It is a perpetual program but does have provisions to be purchased.
A Stronger Financial Position
LaaS model is rooted in the energy savings produced by the project. When the project is paid for by those savings on a monthly basis versus as a capital project, a business can keep the cash they would normally use for projects like this in the bank, and move the expense over to the operational side of the business.
Depending on the exact terms and structure of your LaaS agreement, your lighting maintenance can be reduced or even eliminated over the course of the agreement. SPEC Tech is able to not only install the lighting project, but also support it with electricians and service teams nationwide.
Positive Cash Flow From Day One
When the project is paid for out of the utility savings, the positive cash flow can be recognized with the first lower energy bill! This makes the project a winner from day one and lets the business see a return without having to see red first!
Rebates and incentives
Rebates and incentives will be researched and will be accounted in the project financial scheme.
Engineering drawing and Permits
SPEC Tech’s turnkey solution include the development of the construction drawings and taking them through the City/AHJ approvals, and permitting process.