Financing makes the difference on a decision to implement energy-saving LED lighting solutions in a workplace, according to a new poll commissioned by Leapfrog Lighting.
Ottawa Canada (PRWEB) July 30, 2014
Financing makes the difference on a decision to implement energy-saving LED lighting solutions in a workplace, according to a new poll commissioned by Leapfrog Lighting. Only 16.5% of business owner and manager respondents had no intention of implementing LEDs, while a sizable 66.3% planned to implement—if financing was available. 17.2% planned to go ahead with implementations without financing.
A previous survey question revealed that upfront cost is the leading reason for a delay in implementing LED lamps in their workplace, even though 81.9% ultimately will install.* Based on this response from 200 randomly-selected business owners and managers, financing makes a big difference to their implementation plans.
The actual question asked was "Does the option of financing upfront costs make a difference to your decision to use LED bulbs?"
Only 16.5% of respondents had no plans to implement LED, while 17.2% would go ahead without financing. The majority responded positively to the financing option, with 20.2% indicated yes unconditionally, 32.1% yes but dependent on the terms, and 14% yes, when the time was right.
This supports a previous poll from Leapfrog Lighting that indicated slightly more than half of business owner would delay based on upfront costs, although 81.9% would ultimately implement LED bulb solutions. The data implies that with a financing option, upfront cost is less of an obstacle to implementation.
“I was not at all surprised with these findings,” said Stephen Naor, CEO of Leapfrog Lighting, who commissioned the random poll of business owners and managers. “In our experience, smaller business owners often do not have the time available, or balance sheet strength that would allow them to finance LED lighting upgrades. They then lose the opportunity to reduce their electricity costs. This is why we have arranged easy-to-obtain and affordable third-party financing for our clients." (Information here>>)
When the data is segmented by age, older cohorts were the most likely to finance unconditionally, with 25% of 55-64 year-olds most likely to choose "yes" to financing regardless of terms. 54.3% of 18-25 year-olds and 39.7% of 25-35 year-olds indicated "yes, depending on terms."
There are no significant trends in terms of age, although higher income tended to pull the response “depending on the terms.” or “when we are ready.”
Suburban business owners and managers were most likely to choose “yes, depending on terms” or indicated they were going ahead with LEDs without financing. Rural respondents were slightly more likely to unconditionally choose “yes” or indicated they were going ahead with LEDs without financing. Urban were the most likely to choose “yes, when we are ready.”
The US West respondents were the most likely to indicate “yes” or “yes depending on terms.” The US Midwest respondents were the most likely to indicate “yes, depending on terms.” US Northeast were the most likely to indicate they were going ahead with LED without financing.
By gender, Females are more likely to choose “yes” unconditionally or indicated they would go ahead without financing. Males were more likely to chose “yes, depending on terms” or “yes, when we are ready.”
For other research polls focused on the LED lighting sector, visit>>
About the Poll
The blind, randomized poll canvassed the opinions of 200 business owners and managers, a segmented cohort of a larger poll drawing 2372 responses. Data collected by a research company on behalf of Leapfrog Lighting. The poll is considered statistically accurate, subject to an error rate of 3.92 per cent. The poll has an average absolute error rate of 3.92 and a confidence level exceeding 95 per cent.
About Leapfrog Lighting
The current Leapfrog Lighting spec-quality product line includes MR16, PAR20, PAR30 and PAR38 lamps that provide industry-leading output power through high-efficiency LED source and driver electronics. The innovative lens design creates a pleasing, glare-free light suitable for use in all indoor and unexposed outdoor down-lighting applications. The lamps also deliver the high CRI and ultra-consistent colour temperature control critical to multi-lamp applications in hotels, restaurants, schools, office buildings, museums, galleries, retail operations and other public spaces. With a life expectancy of 40,000 operating hours, these UL-registered lamps will provide more than twenty-seven years of service at four hours per day.
“Leapfrog Lighting intends to be the current and future benchmark in quality of light for years to come,” said Stephen Naor of Leapfrog.