F. Hinds is a jewellery retailer with 110 shops across the UK. The company is family-owned, and admits it spends its money carefully. With this in mind, it has studied what LEDs can do to save energy and improve lighting quality, and has begun installing LED lighting systems in its outlets. Before it started fitting LEDs, F. Hinds had an annual electricity bill of £267,000. Three kilometres of fluorescent lighting, 1,500 halogen bulbs and 4,800 metal halide downlights were responsible for this.
Over a 10-year period, the company directors expect the replacement LEDs to cut energy consumption by 57% for the fluorescent lighting, 82% for the halogens and 62% for the metal halides.
The cost of the total LED refit is £1.5 million. Taking into account the reduced electricity bills, F. Hinds says the payback will be between two and four years for each shop.
F. Hinds doesn't just want LEDs to save money, however. It wants them to boost sales. And company director Neil Hinds says the LEDs have done just that. Diamond sales have increased because LED lighting has improved the sparkle of the gemstones. Extra sparkle impresses customers and prompts them to make purchases.
F. Hinds is also experiencing two other benefits from its move to LEDs. The first is in the form of the Enhanced Capital Allowance. Under this scheme, the company can write off all the capital costs of the LEDs against taxable profits.
The second benefit is the improvement in the company's carbon footprint. F. Hinds believes the LEDs will cut this by 4,900 tons.
LEDs can therefore save money, help take advantage of a tax allowance and reduce carbon footprints. If you're in the jewellery business, they also give your diamonds an alluring and profitable sparkle.