While there are a host of building upgrades that can translate into improved energy efficiency and lower utility bills, lighting upgrades continue to be the most popular choice for FMs, according to a new report from energy solution provider Noesis. The study points to several factors as explanation for the popularity of lighting upgrades, including simple implementation, short payback periods, and a consistent, high rate of return.
The study, which analyzed data from over 1,300 projects with a combined value over $500 million, found that lighting retrofits were most frequently proposed. This accounts for four times more projects than HVAC upgrades, the second most popular type of upgrade. Rounding out the top four upgrades were solar power and building automation and controls.
Even though it’s the most popular, the researchers did not find lighting upgrades to have the highest internal rate of return across the project types studied –building automation and control upgrades scored higher than lighting at 44% and 41% respectively.