This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

The Switch To LED Retail Lighting Will Save Havertys About $22,300 Per Store Per Year. (Photo: GE)

When Havertys Furniture evaluated its lighting portfolio across all 122 of its locations, the Southeast-region retailer wanted a solution that would benefit more than just its bottom line. The technology, performance and aesthetics of GE’s 14-watt LED Retail PAR38 lamps inspired Havertys to use GE products to retrofit existing stores and for new construction moving forward. The switch will mean an average $22,300 lighting cost savings per store per year (based on a $.10 kWh rate and 4,000 hours of operation) or $2.2 million company-wide.

The switch to LED retail lighting will save Havertys about $22,300 per store per year. (Photo: GE)

The switch to LED retail lighting will save Havertys about $22,300 per store per year. (Photo: GE)

“Our goal was to save money and be good stewards by reducing our energy footprint,” said Glenn Boone, director of construction and design for Havertys. “GE’s lamps were an important ingredient in our equation.”

Currently among stores retrofit with GE’s LED lighting, Havertys reports an average 25-35 percent energy reduction—its Austin, Texas location alone seeing a more than 40 percent decrease.

To date, Havertys has purchased 10,000 LED Retail PAR38 lamps, with an additional 5,500 scheduled for delivery. All of its locations are expected to be completed by 2015. The average store houses 734 fixtures fit with 90-watt halogen lamps, each costing $36 to operate annually. By comparison, each GE 14-watt LED lamp will cost only $5.60 to power for a year. This amounts to a $22,300 savings per store per year, or eventual $2.2 million cost benefit when all installations are complete.

The design and technology of GE’s PAR38 lamp was also a major selling point for Havertys. It was important that the LED diodes would not be visible on the lamps, and so the Visual Comfort Lens™ of GE’s retail lighting product was, in their words, “a game-changer.”

Stock quotes in this article: GE 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs