Pay as You Save – GREENLIGHT CANADA – Vancouver LED Retrofits

Business Model

The capital costs of LED upgrades are usually prohibitive for buildings to pay for up-front, so they never get completed despite enormous potential long-term savings. For clients who don't have the budget to cover a comprehensive LED upgrade, Greenlight Canada makes upgrading easy by offering project financing. Our clients pay only a monthly fee for a fixed term, with no money down. Our fee is always less than the electricity cost savings as a result of the upgrade. Even after our fee, our clients save hundreds of dollars each and every month. Please see our terms and conditions for more details.

An important part of our Pay-As-You-Save model is that savings are calculated empirically, first by conducting a thorough survey of all the bulbs to be replaced, and then by physically testing both the bulb and its corresponding LED replacement. It is impossible to retroactively separate lighting from all other common area uses of electricity on an electric bill (like heating, ventilation, air conditioning, and IT systems). This is why we use testing and calculation to drive our projections, rather than working backwards from month-to-month billing.

Savings per month are calculated for each lamp by multiplying:

  1. The actual power consumption (watts) of the original fixture, minus the actual power consumption of the LED replacement, divided by 1000 to convert to kilowatts. This value is measured using a wattmeter.

  2. The number of hours per month that each fixture is lit. Places that are lit at all times stand to gain the most from an energy-efficiency upgrade.

The result (kilowatt hours) can be translated into hundreds of dollars in savings each and every month. We also take into account the maintenance savings of fewer bulb and ballast replacements for a complete projection over 9 years.