66.3% of Business Owners and Managers Indicated They Preferred to Finance Upfront Costs of LED Lighting Implementation …

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 implementif 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.

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66.3% of Business Owners and Managers Indicated They Preferred to Finance Upfront Costs of LED Lighting Implementation ...