Dialight Partners with Capital One Bank to Offer Financing for Energy-Efficient LED Lighting Upgrades
Flexible financing plans help organizations achieve more immediate energy and cost savings, plus take advantage of rebate programs for faster ROI.
To help organizations realize more immediate cost and energy savings, plus take earlier advantage of utility rebates for switching to LED lighting, Dialight (LSE: DIA.L) announced today that it has partnered with Capital One Equipment Leasing & Financing to extend affordable and flexible leasing and lending options to customers looking to upgrade their existing lighting fixtures to Dialight's high-efficiency, long-life LED lighting solutions.
"The reality is that financing options are becoming a critical component of many LED upgrade projects," said Roy Burton, group chief executive at Dialight, the innovative global leader in LED lighting technology. "Working with Capital One Equipment Leasing & Financing, we can help our customers obtain more immediate cash rebates from state or utility programs that can help the project become significantly cash positive almost from day one."
While actual savings may vary based on a number of factors, customers in New York State, for example, can get as much as 40 percent of the project cost reimbursed in the form of state energy-efficiency rebates, plus save at least $1,600 a month in energy costs with LEDs versus traditional metal halide lighting. With an estimated monthly payment of just $2,000 for a 60-month term, the effective cost of a $100,000 investment could be as low as just $400 a month.
And, most businesses can also take advantage of tax incentives through the American Reinvestment and Recovery Act (Stimulus Act) to write off an extra 50 percent in depreciation and possibly expense up to $250,000 of the total upgrade cost.
"Simply put, postponing a lighting retrofit at this point is a waste of money," Burton said. "With partners like Dialight and Capital One Equipment Leasing & Financing to guide our customers through the product and financing options, they will have few, if any, hurdles to both an improved lighting system and significant financial gain."
As part of the program, Capital One Equipment Leasing & Financing will offer a wide range of flexible financing terms to meet the needs of businesses planning to retrofit any facility with Dialight's ultra-energy efficient and low-maintenance LED fixtures. With 100 percent financing available and early buy-out options, Dialight customers can take advantage of two- to five-year terms with affordable, direct funding from one of the top 10 banks in the country with low rates and transaction fees.
"Achieving more efficient and sustainable operations has become a key factor in overall business success today," said Anthony Perettine, executive vice president of Capital One Equipment Leasing & Financing. "We're very pleased to partner with Dialight to make it easier and more affordable for their customers to see a more immediate return on their investment in Dialight's proven, low-maintenance LED technology."
Dialight's advanced LED lighting solutions for high-bay, hazardous location and exterior lighting applications are the most energy efficient and reliable fixtures on the market. Every unit is backed by at least a five-year warranty to ensure safe, dependable, high-quality lighting with virtually no maintenance and a much lower total cost of ownership versus traditional commercial or industrial lighting.
For more information about Dialight's energy-efficient, low-maintenance LED lighting solutions, visit www.dialight.com.
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