Hidden Costs of a Power Outage
Benefits of a Standby Generator During Power Outages
When the power goes out, costs can add up quickly. According to a White House report from 2013, power outages caused by severe weather cost the U.S. economy an average of $18 billion to $33 billion a year. Each week, an average of 3.5 million Americans experience a power outage.
Here in the Midwest United States, we’re gearing up for spring and the strong summer storms that are to follow. As we begin to face the threat of flooding and even tornadoes, we want to make sure our home and family will be safe. Here are a few hidden costs to consider that are associated with just one residential power outage.
Power Outage Costs at Home
1. Spoiled Food: $151
The average American family spends $151 on perishable groceries each week. According to the USDA, any perishable items that are unable to be frozen or refrigerated for longer than four hours should be discarded. This includes items such as meat, poultry, eggs, dairy, and cooked leftovers. This means that the longer the power is out, the more food (and money) you’ll have to throw away.
2. Hotel Stay: $137 per night
A power outage can often make living conditions inside the home unsafe, due to loss of heating or cooling, or flooding. A homeowner who finds themselves in this situation is likely to need to spend the night in a hotel, which will cost an average of $137 per night. The longer the power is out, the longer (and more costly) the hotel stay will be.
3. Emergency Supplies: $150
Homeowners who find themselves in the midst of a power outage due to severe weather
often need to purchase emergency supplies to be able to safely stay in their homes. Supplies such as firewood, blankets, lanterns, batteries, and non-perishable foods can add up, the longer the power is out.
4. Property Damage: $1,916
The most significant cost of a power outage due to severe weather is property damage. On average, a homeowner who finds damage to their home as a result of a power outage spends nearly $2,000 to repair the damage. From replacing flooring and drywall in a flooded basement, fixing a damaged sump pump, or general clean-up, property damage costs can really add up.
5. Lost Wages: $211 per day
If the power goes out and your basement floods, your priority will certainly be cleaning up the mess and salvaging as much as you can. This may mean that you’ll need to take time off of work. The average American makes $211 per work day, meaning that the more damage to your home, the more money (or paid time off) you’ll have to forfeit at work.
How to Avoid Paying for a Power Outage
Just one power outage can really put a dent in your bank account. Loss of food, purchase of safety supplies, and the cost of fixing damage to your home can all add up.
Luckily, there is something you can do to avoid paying the price of an unexpected power outage. Think of a standby generator as insurance against a power outage. You never know when you’re going to need it, but when the time comes, you’ll thank yourself for making the decision to invest in it.
Now is a great time to have a standby backup generator professionally installed at your home. Give Midwest Generator Solutions a call today to see how we can help you.
Don’t wait until the storm hits. Call Midwest Generator Solutions today!
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