## Recommended Practice for the Economic Analysis of Lighting |

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### Common terms and phrases

amount Analysis of Lighting annual cash flow annual cost annual equivalents Annual Power ballast replacement benefits of light calculation cents/kwh CFAT color rendering compared comparison computed confidence interval consideration considered cost of capital cost of light Cycle Cost/Benefit Analysis decimal fraction decision depreciation discounted dollars economic analysis economic needs energy costs energy rate example External costs FIRST-LEVEL ANALYSIS METHODS first-level methods future savings group relamping included initial cost initial investment input interest rate joules lamp types lighting designer line A.3 luminaire maintenance costs ment meth million Btu negative number nomic number of equal opportunity rate options percent periods future Power and Maintenance present value present worth question Rate of Return rebates Recommended Practice reduce retrofit Salvage value SECOND-LEVEL ANALYSIS METHODS second-level methods sensitivity analysis sequential time periods simple payback method Simple Rate tax effect tion today in order value of money watts yield