The payback time for light-emitting diodes has dropped considerably in recent years in certain commercial and municipal applications. But for many companies and cities, making the switch to LEDs still requires too much money upfront. To get around the sticky issue of multi-year paybacks, Philips has just offered its first turnkey lighting-as-a-service model to the Washington Metropolitan Area Transit Authority. WMATA will upgrade more than 13,000 lighting fixtures at no upfront cost and pay for the project, plus a ten-year maintenance contract with Philips, through the $2 million savings the LEDs will provide annually.
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