Percent voltage drop

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I have a question regarding percent voltage drop. I have rack with utility meter, customer panelboard (service equipment) fed from utility meter next to each other on rack. My question is would less than 5% voltage drop be ok from panelboard (service equipment) to site light circuit since panelboard, utility meter are next to each other or would it be more efficient to provide less than 3% from panelboard to light (branch circuit) per NEC 2014 percent voltage drop?

 

[infinity]

3% is a good guideline but for this application it is not required to provide VD compensation.