What is the ROI of a Standby Generator Connected to My Home?
Generators are powerful appliances that can help keep your home safe and secure during electrical outages. Sometimes, power outages are planned, like the rolling blackouts scheduled in many states last year, and there are occasions where the weather is responsible for power grid failures. Regardless of the cause of the power outage, home generators can save you money and prevent the stress connected with being without important services and needs. When so many of the important services and critical systems we use in our homes are dependent on electricity, it’s no surprise that American households suffer tremendous financial loss from power outages.
Most recent figures estimate that Americans lose an average of $150 billion each year from power outages. Surprisingly, only 33% of power outages are related to weather events, which means that less than half of all power outages are from truly unpredictable circumstances. The power grid in most areas is under tremendous stress from the growth of energy-dependent devices across the country. Generators can provide emergency energy services to critical household systems that can save homeowners the time and money associated with replacement and recovery after a power outage.
Are Homes Worth More When a Standby Generator is Installed?
A standby generator can kick on within seconds of energy grid failure, so for many buyers, the benefits are obvious. Having access to critical systems when everything else in the grid is down can be an enticing benefit for many homebuyers. According to Remodeling Magazine, a standby generator affixed to your home has a 150% ROI, which can translate into serious interest from buyers who realize the value of such a coveted add-on. When properly installed and outfitted to your property, a standby generator can provide your home with energy for days after a power outage. Appliances that add this level of convenience and reliability can increase the value of a home anywhere from 3 to 5%. Generators are typically fuel-powered. Fuel models can be directly connected to the electrical panel in your home, increasing convenience and reliability.
Demand Growing for Standby Generators Homes Explained
The demand for generators has seen a steady increase during the last few years. For homeowners worried about food waste and potential damage to electrical devices from power outages, a generator seems to be the financial security property owners are looking for in their new home purchases. During the pandemic, many homeowners found themselves relying on using their home offices for regular work responsibilities. Remote workers can’t risk being unable to complete assignments or losing important data due to conditions beyond their control. One of the reasons standby generators are growing in popularity is because remote workers need the additional reliability provided by a standby generator affixed to their home’s electrical system. It’s great when the changes you want to make for your benefit positively impact the value of your home. Remodeling experts have consistently shown there is added value to the homes where a standby generator has been affixed to the property, and in addition to these gains, a generator seems likely to make your home an easier property to sell. So, if you are in the market for a generator, there’s no better time than now to make what current trends show is a smart investment into your property. Call Quality Home Services today at (800) 985-8103 for more information.