Don’t Let Rising Electrical Rates and Plummeting Wholesale Prices Take You Down!
Growers are facing significant challenges.
- Electrical prices are on the rise.
- Wholesale cannabis prices are at an all-time low.
- Small business farmers are going out of business.
The need is real. The investment can be overwhelming.
FundLED Upgrade will connect you with everything you need to switch you to a state-of-the-art LED lighting solution that sets you up for long-term success.
Why FundLED Upgrade?
Upgrading can be very expensive as fixture costs can be high, but not upgrading will crush your bottom line as electrical rates continue to rise. FundLED Upgrade is working with GoGreen Financing to strengthen the California electrical grid by (1) helping farmers reduce their energy usage and (2) providing back-up to any loans required to make this investment. With GoGreen Financing and a host of rebates and grants available to farmers, upgrading to LED is now affordable.
Fund Your Future!
FundLED Upgrade is a turnkey solution to leverage government grants, utility rebates, and below-market funding rates to acquire, install, and optimize LED growlight and control systems within inefficient HPS facilities.
| 640W LED | 1060W HPS | |
|---|---|---|
| Cost of Hardware | $400,000 | $125,000 |
| Bulbs | – | $40,000 |
| Installation (estimate) | $50,000 | – |
| Govt. Grants (ERC)* | ($120,000) | – |
| Utility Rebates** | ($50,000) | – |
| Total Fixture Cost | $280,000 | $165,000 |
| Cost of Energy ($.10 KwH) | 640W LED | 1060W HPS |
|---|---|---|
| Year One | $186,880 | $309,520 |
| Year Three | $560,640 | $968,560 |
| Year Five | $934,400 | $1,627,600 |
| Total Cost of Ownership | 640W LED | 1060W HPS |
|---|---|---|
| Year One | $466,880 | $474,520 |
| Year Three | $840,640 | $1,133,560 |
| Year Five | $1,214,400 | $1,792,600 |
Information
- 16 hours/day of artificial light
- 500 fixtures for both LED ($800/unit) and HPS ($250/unit)
- During Years 3 and 5, HPS will need to be replaced at $40K each time
- Employee Retention Credits assumes 8 FTEs
- Utility Rebates assume $100/fixture
- Cost of Energy = wattage * fixtures * hours/day * days/year * Kwh
California Market Reality:
- Californians Can Weigh In on PG&E’s 22% Proposed Rate Hike with Calif. Public Utilities Commission
- PG&E monthly bills are set to jump again this year, jolting customers
- PG&E eyes higher electric and gas bills as utility seeks more revenue
- PG&E Proposes Significant Rates Increases for Agricultural, Commercial, and Industrial Customers
How It Works
Working with GoGreen Financing, an official State of California initiative, FundLED Upgrade coordinates financing, installation, rebate management, and lighting right to your facility.
- Contact us and fill out the form.
- We’ll contact you to get more info.
- We’ll send you a rough estimate of the cost to buy/install LED lights and how it can be funded.
- If you accept, we go under contract and send you a letter of intent. Once signed, we finalize the program (we’ll need some information from you for underwriting at this time).
- We’ll send a final proposal within 30 days of the letter of intent (good for 30 days).
- Once you sign the proposal, we’ll take it from there. Your fully upgraded facility will be up and operating shortly at a cost far below what you ever imagined.
The amount you save on electricity can be more than the payments for your new and installed lighting package.
Best yet, these lights come with a five-year warranty and a useful life often beyond 10 years. HPS bulbs must be changed out annually with no such guarantee. Ever.
CALCULATOR
Complete the calculator below to receive an estimate of your lighting needs for your indoor growing facility customized by your location and crop. You’ll receive initial recommendations for the lights that would deliver the best results based on the information you provide.
(Please note that the calculator provides an estimate based on limited information. A full estimate will require additional discussion.)
