Lighting-as-a-Service (LaaS) is an innovative, new lighting delivery model that allows you to upgrade to high-efficiency, low-energy LED lighting without any capital investment. Prologis, as the LaaS provider, will upgrade your in-place lighting fixtures, cover all associated costs and manage all aspects of the implementation. A portion of the money you save on reduced energy bills is applied as a LightSmart payment to Prologis. To give you full transparency on energy savings generated from the upgrade, Prologis will install circuit-level submeters that provide real-time data on your lighting usage. LaaS benefits include:
Immediate energy savings with no capital investment
Reduced operating and maintenance costs
Trackable savings monitored through our smart meter platform
We are offering the program to existing customers. While the lease term is not a constraint, please be
aware that LightSmart will not make financial sense for all customers. Financial viability is dependent
upon a number of factors, including:
4. What will be more economical for me in the long run, investing in and installing my own LED system or participating in LightSmart?
LightSmart is likely to be the more economical option, but you will want to review your options and do your own assessment. Here’s why LightSmart is likely to be more economical:
Flexibility: You only make LightSmart payments through the term of your lease. With other LaaS programs, your obligation may extend for the full length of the lighting upgrade’s amortization period, regardless of your lease term.
Resources and expertise: The LightSmart Team will provide you with a full-service upgrade, including all aspects of design and implementation. Many companies have neither the expertise nor the resources to complete an upgrade efficiently for maximum impact on their own.
Investment: LaaS is an off-balance sheet expense, not a capital project. No upfront investment is required.
Time: Get your LightSmart upgrade now and start realizing the benefits immediately.
6. Can Prologis work with the vendors I have relationships with already?
Maybe. Prologis has partnered with SmartWatt to implement LightSmart. SmartWatt has a network of sub-contractors that meet the program’s safety, quality, and scope of work requirements. However, in some cases, we may be able to work with your licensed electrician and other local sub-contractors.
8. Do I still have to pay my monthly utility bill?
Yes. You will still pay your monthly utility bill at your current energy rate, but it should be less due to the energy savings from LightSmart. In addition, you will share with Prologis the verified energy savings associated with your LED upgrade. The shared savings percentage varies based on a variety of factors including existing lighting and controls, operating hours, utility rate, and available incentives. Assuming no changes in rate or facility use, the total should be less than what you were paying before the upgrade—and you will have significantly improved lighting.
The online energy dashboard gives you access to your energy usage and associated savings in real time. During the upgrade, we will install smart meters to monitor consumption for accurate annual savings tracking.
13. Does Prologis maintain my new lights if I participate in LightSmart?
LightSmart provides a full system performance guarantee for the first year. This guarantee includes parts replacement and any labor required for repairs. Note that LED lighting systems typically have very low failure rates. According to most manufacturers, failure rates are less than one percent per year. Historically, most LED defects show up within the first three to six months of installation; after this period, defect levels drop significantly. Within a 10-year plus lifespan, LEDs do not require significant ongoing maintenance.
15. What if the LED lighting installed under LightSmart is insufficient or not bright enough for my needs?
Prior to signing the LightSmart agreement, we will walk you through a detailed lighting design. You will be able to evaluate and adjust the design—within the scope of Prologis’ specifications—to better meet your needs.