In retrospect, it’s a bit surprising how long it has taken for LED lighting to be widely adopted. LEDs were first invented more than 60 years ago, and while it was clear that they used less energy than incandescent lights it still took decades before they caught on.
Well, that’s certainly changed! Not only have we seen a huge surge in demand for LED lighting, but the trend shows no signs of slowing down. According to research conducted by TechNavio, the global demand for industrial and commercial LED lighting will increase by $41.56 billion by 2026. The report also shows that momentum is only accelerating.
To make sure you’re ready to take advantage of this big opportunity, here’s a closer look at what’s driving all this demand and what you can do to prepare.
What’s Driving Demand for More LED Lighting?
So where’s all this interest in LEDs coming from? It’s not just a case of “better late than never.” There are a couple of factors at play, both of which have helped to propel the demand for commercial LED lighting.
First, there are the cost savings of using LED fixtures. According to the U.S. Department of Energy, LEDs use up to 90% less energy than incandescent bulbs, and they can last up to 25 times longer. This means that not only do LEDs help your commercial clients save on energy bills, there’s also a lot less maintenance. In facilities that may have hundreds of fixtures, fixtures that last 25 times longer adds up to a lot of saved labor.
But cost savings aren’t the only driving force leading to widespread adoption. Both in the United States and around the world, businesses of all shapes and sizes are setting sustainability goals and committing to reducing their carbon footprints. How? It’s a complicated problem, but one big piece of the puzzle is using less energy.
When companies switch to LED lighting, they reduce the amount of power they use. This in turn means they’re relying less on fossil fuels, thereby decreasing the amount of carbon they’re putting into the atmosphere. For commercial businesses that want to save money while being kind to the environment, switching to LED lighting is a total win-win.
What Should Your Business Do to Prepare for the Increased Demand?
With these factors driving demand, the next question probably seems obvious: What can you do to prepare? Because while it’s a great thing to have all this potential new business, it’s a double-edged sword if you’re already stretched to capacity, or if you lose out on a bid to your competitors.
Here are three ways you can position yourself to be ready for this influx of customers.
1. Prioritize Efficiency
It doesn’t matter how much business is out there if you’re already worked to capacity. One of the best ways to take advantage of the increasing demand for commercial LED lighting is to start working now to make your operations as streamlined and profitable as possible.
Looking for a good place to start? Here are some questions you can ask to make your LED light audit much more efficient.
2. Study Your Customers
If you want to stand out from the competition, it helps if you speak your customers’ language. Getting familiar with the specific needs, challenges, and LED use cases for their industry will help convince them that you’re the right person for the job.
That’s why we’ve put together a series of guides on selling LED lighting to different industries. Go in prepared and win more of your bids!
3. Demonstrate Value
While LEDs offer a ton of great benefits, not the least of which are energy and cost savings, they’re also an investment. LED fixtures typically cost more than their incandescent counterparts do, and this expense may give some of your customers pause.
If you find they need a little convincing, our payback calculator can demonstrate how quickly LED lighting pays for itself. Learn how to use it now so you’re ready when your customers need it.
How Can You Go Above and Beyond for New Commercial LED Customers?
Good preparation goes a long way in winning more business. But with this much opportunity on the line, you’re sure to see more hustle from your competition as well. Besides being prepared, is there anything else you can do to go above and beyond for your customers?
Absolutely! First, you can help them take their energy savings to the next level by recommending advanced control options. These controls make it easy (and sometimes automatic) to squeeze even more savings out of LED fixtures by controlling when and how they’re used.
Next, you can also help your customers find rebates and incentives to help them save even more money when they switch to LED lighting. These rebates are part of government efforts to encourage energy savings and sustainable business practices. Helping your customers find and take advantage of them is another great way to go the extra mile.
Finally, be discerning about who you partner with. The demand for LED lighting could mean a lot of new players trying to enter the market and capitalize on the opportunity. But when you partner with a tried-and-true company like Litetronics, you and your customers will benefit from more than 50 years of experience and expertise.