Financial constraint is a big hurdle in the implementation of necessary infrastructure upgrades that could save on operating expenses. For instance, Local Government Units are always looking for ways to lower their energy consumption. They could do this by monitoring and controlling the use of energy, but this is a temporary solution. LGUs who think long term would decide to upgrade to or purchase additional energy efficient infrastructures or equipment, for example replacing their present streetlights into Energy Efficient Lights (EEL), but this would incur huge capital expenditures for the upgrades and this would use up budget that could be used on other more important public services. Although the LGU can cope with this expense with the savings earned later on, it would still entail bigger upfront cost that would cause the majority of LGUs to just give up on the endeavour. This is a common problem not only by LGUs but also business establishments, households, and private institutions.
Luminance Inc. provides a solution to this common problem through our Energy Saving Performance Contracting (ESPC) that aids customers in eliminating financial barriers that prevents them from upgrading to energy efficient infrastructures. But how does our ESPC accomplish this?
With our ESPC, customers can upgrade their infrastructure or facilities without the need for capital expenditures or cash out. Luminance Inc. will finance all costs in identifying and installing energy-efficient facilities and equipment in exchange for an affordable monthly scheme for an agreed period of time. After which the customer will own all of the facilities and equipment as well as the continued savings.
To sum it up, our Energy Saving Performance Contracting can give customers the benefits of:
• No capital expenditures, No cash-out
• 70% reduction on electricity consumption
• Image building through visible sustainability
• better & modern lighting at no extra cost
• Immediate implementation, no need for funding