How Much Do Power Outages Cost1/17/2020
Oftentimes, people write-off power outages as small nuisances, but an extended loss of power due to a severe storm or man-made error can actually be extremely destructive and costly.
If the power to your home is cut off for more than a few days, costs will begin piling up. According to Briggs and Stratton, 70 percent of Americans who experienced an outage of only 12 hours or more faced unexpected expenses as an outcome.
So, how do these costs start adding up? Respondents to the Briggs & Stratton survey reported the following as common costs during a power outage:
- 40% replaced spoiled food
- 29% forked over money for emergency supplies to protect their home and family during the outage, including candles, flashlights, firewood, etc.)
- 16% bought a portable generator
- 13% had to take time off work
- 11% reported property damage
- 8% had to pay for a hotel room during the outage
Other research has found the following as costly repairs due to power outages and storms:
- $10k due to burst or frozen pipes
- $21K due to flooded basement
- $30K-$300K due to mold removal
Because of all of these costly repairs, American households spend approximately $150 billion in power outage-related expenses each year.
To avoid these unexpected costs and repairs, a lot of people, especially those in regions that have intense inclement weather, are preparing their homes in advance by installing a standby generator.
With so many affordable options and payment plans, it seems like more and more homeowners will start installing standby generators to prepare for the worst.
If you’re worried about the potential cost of the next power outage, our experienced technicians at Northside Power can evaluate your home for free to determine the best option for your needs. Contact us at 501-315-7213 to schedule a free quote.