BOISE – It can be a big drain every month paying that monthly power bill.

Power rates have gone up in the Treasure Valley, but one company wants to shed some light on ways to save money on your electricity.

Bill Jacobs, owner of Alloway Lighting in Boise says home and small business owners should take advantage of an incentive program through Idaho Power that allows you to save money and energy.

"By using these incentives a company is reducing the power usage of their building, so that is saving them money and then they are getting Idaho power to offset the cost of installation,” Jacobs said.

All you have to do is simply replace your old lights with new energy efficient ones.

Jacobs says for example if a total conversion costs $3,500 Idaho Power will pay back nearly $2,000.

Also your yearly energy savings will be more than $1,000.

“It’s great savings,” Jacobs says. “(You get) a quick pay back and then the amount you save on your power bill is long term.”

So, while the cost is there, if you take advantage of the money back from Idaho Power and calculate your energy savings Jacobs says you can expect a full return of funds in just over a year.

Idaho Power also has money back incentives for homeowners who just want to replace a few fixtures.