It has a lot to do with economic risk assessment

As the old saying goes, “Life use to be a lot simpler.” The reality is that we live in an age and time where a lot of what we do in our personal and business lives revolves around the use of electrical power. That is reality. Being prepared does not have to be complicated. It’s just a matter of analyzing your situation and doing a risk assessment.

There was a day when deciding on standby power systems was a simple process of evaluating electrical loads and staying within local, state and federal codes. The decision was usually based on the minimum requirements: operate elevators, alarm systems and make sure employees and customers could get out of the building. This was before businesses became so reliant on digital technology. A few minutes of standby power was sufficient for most facilities.

An outage today can cost tens of thousands, or even millions, of dollars. Today, sizing and specifying standby power systems is becoming a business decision, driven by economic risk assessment and a continually growing dependence on a virtually perpetual source of electric power.

Now we need to look at how much a utility outage will cost per hour in terms of lost production, lost products, lost revenues, lost data or even lost customers. The question to ask now is this, “How much is my company willing to invest in a standby power system to reduce our risks to zero?”

According to research by many contingency planning organizations, the cost of an electrical outage can exceed $1 million per hour for the average large business. In certain industries such as semiconductor manufacturing, energy production and telecommunications, losses may reach $2-$3 million per hour or higher. Given these high-stake risks, business owners and managers are forced to evaluate new options for providing a continuous supply of power. The fact that we have virtually a 24/7 dependency on electrical power causes us to take a long hard look at the risk assessment of being without power – even for a limited amount of time.

Empower Energy Technology believes every company needs to conduct an economic risk assessment before making any decision on a standby power system. We can assist you in this assessment. Every business is different and we have the expertise, experience, and knowledge to perform a thorough assessment that will be right for your business. From design and engineering to maintenance and support, Empower Energy Technology is here to assist you stay Always On. Contact us today.