For many businesses being “Green” is just a marketing tool. At Grace’s Places, however, reducing energy consumption has always been a cornerstone of my business model. At the end of the day (or the fiscal year) a penny saved is the same as a penny earned, and lower costs mean lower rents (more)

I’ve always been a big fan of energy-efficient lighting, but of course at my Annex and Cabbagetown properties I pay for the electricity so that’s to be expected. I started using LED bulbs in hallways and common areas about a year ago, and gradually have been retrofitting the apartments. The new LED are an attractive warm colour similar to halogen, but generate much less heat. And they’re dimmable.

But I have not limited my lighting retrofits to those properties where I pay for the electricity. At the Upper Beach property (where tenants pay for their own electricity) I have just fitted all of the lighting in the kitchen and bedsitting room in Apartment 1 with LED light bulbs. Amortized over the expected life of the bulbs my $450 investment will cost me about $4.50 per month, but will likely save the tenant more than $16.00 per month (assuming that the lights are on for six hours per day. Indeed, with LED bulbs the tenant’s cost for lighting should be less than $2.00 per month.