Recommended Practice: Economic Analysis of Lighting

Economic Analysis of Lighting

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ANSI/IES RP-31-20
Document Type: Recommended Practice (RP)

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SKU: ANSI/IES RP-31-20 Category: Tags: ,

Product Description

Approved American National StandardThis document will help answer many types of lighting economic questions. It provides a framework for selecting from a group of competing lighting designs. It gives insight into the question of when a system under consideration will “pay off.” It can help the lighting professional make energy conservation decisions. Most important, it provides methods for gauging the profitability of a capital investment in a lighting system, which can be objectively compared to other competing capital investments. It is important to note that this document is written from the point of view that “economic analysis” is not the same as “how to beat the budget.” Rather than considering economic analysis as the antithesis of engineering or artistic analysis, it should be thought of as subsuming these other needs.

Page count: 27 pages
Publisher: Illuminating Engineering Society (2020)
SKU: ANSI/IES RP-31-20
ISBN-13: 978-0-87995-349-2

Chapters:

  • 1.0 Introduction and Scope
  • 2.0 The Role of Economic Analysis in Lighting Design
  • 3.0 Second-Level Analysis Methods
  • 4.0 Sensitivity Analysis
  • 5.0 Benefit Analysis
  • 6.0 First-Level Analysis Methods
  • Annex A – Notes on Financial Analysis
  • Annex B – Lighting Controls and Annual Burning Hours
  • Annex C – Present Value Tables
  • Annex D – Present Value of an Annuity

CONTENTS

  • 1.0 Introduction and Scope
  • 1.1 Introduction
  • 1.2 Scope
  • 2.0 The Role of Economic Analysis in Lighting Design
  • 2.1 The Importance of Making Wise Economic Decisions in Selecting Lighting Systems
  • 2.2 Types of Economic Analysi
  • 3.0 Second-Level Analysis Methods
  • 3.1 Life Cycle Cost/Benefit Analysis
    3.1.1 General Considerations Applying the LCCBA
    3.1.2 Line-by-Line Analysis of Initial Costs
    3.1.3 Line-by-Line Analysis of Annual Power and Maintenance Cost
    3.1.4 Environmental Costs
    3.1.5 Annual Cost Basis Conversions
    3.1.6 Present Value Basis Conversions
  • 3.2 Savings Investment Ratio
  • 3.3 Notes on Interest Rates
  • 3.4 Internal Rate of Return
  • 3.5 Net Present Value
  • 4.0 Sensitivity Analysis
  • 5.0 Benefit Analysis
  • 6.0 First-Level Analysis Methods
  • 6.1 Simple Payback
  • 6.2 Simple Rate of Return
  • 6.3 Cost of Light
  • Annex A – Notes on Financial Analysis
  • Annex B – Lighting Controls and Annual Burning Hours
  • Annex C – Present Value Tables
  • Annex D – Present Value of an Annuity
  • Additional Reading
  • References