Should Your Company Buy Or Rent An Emergency Backup Generator?
Pros/Cons of Renting Vs Buying Commercial Backup Power
When the power goes out, how do you protect your business? For many companies, restoring power right away is critical. Hospitals, grocery stores, manufacturers, and companies that depend on access to communication, security or safety can’t afford outages that last longer than a few minutes.
There’s no arguing that having immediate access to backup power can save a business. Whether it’s a large diesel backup generator capable of powering a large data center or hospital during a blackout, or a smaller natural gas generator keeping a mom and pop grocery store running during a storm, being able to flip a switch and have immediate backup is reassuring. But that immediate reassurance requires an upfront purchase. There’s a wide variety of options for business owners…new diesel, natural gas or towable generators vary by size and capability. Pre-owned generators are also an option, many have low hours and most have been refurbished and are available with service contracts.
While there is a cost savings in renting a backup generator during an emergency, the difference between renting and buying isn’t as significant as it might sound. In head-to-head analysis of just one emergency situation where a generator would be needed, renting can cost almost the same as purchasing.
And there’s another downside…emergency availability! Often, when the power grid goes down, you’re often competing with other businesses looking to rent a generator. Will one be available? If so, when? Will the rental agency be able to install in a timely manner? Will they have the size, model or capabilities you’re looking for? Based on the laws of supply and demand, what will the fees be? If a suitable generator isn’t available, what’s the actual cost to your business and can you survive it?
In the long run, buying is almost always a safer, less expensive way to preserve your company during a serious power outage.
At Critical Power, we have experience helping companies weight the pros and cons of renting versus buying. We offer a wide array of new and pre-owned generators in diesel, natural gas and towable options, and can help determine the best solution to your backup power needs.
Contact one of our experienced backup power professionals and help secure your company’s future in an emergency situation.