LED in Multifamily:
Multifamily LED retrofits are one of the easiest and fastest ways to begin a strategy toward greater energy efficiency at a community. Payback for such implementation can be rapid and this helps to increase the property’s value.
LEDs are now a time-tested and proven solution for reducing energy costs and they are working even better and at lower cost every day. However, there are intricacies and pitfalls when it comes to LED projects, their ongoing maintenance and security.
Many apartment industry partners can help make LED installations or retrofits as easy as they sound while delivering on the promise of long-term savings for the assets.
LEDs can be calculated with a market CAP rate to ensure that the project yields an even larger financial outcome when the site is sold. For example, if an average LED project costs approximately $25,000 and that project saves a community $15,000 per year while under management, the project can be worth another $312,500 at disposition when calculating an 8 percent CAP rate.
Based on comments from experienced apartment companies, following are PROS and CONS about how LEDs worked positively and negatively for the community and how they addressed them: https://www.naahq.org/news-publications/units/january-2017/article/shedding-light-led-retrofits