For quite a long time, generators have become various businesses and homeowners’ favorite equipment. They are not only useful in the event of power outages, but also may serve as a primary source of power.
With backup generators, you will not have any power supply problems, your business and home appliances will keep working properly. Generators will allow you to use power tools in the rural environment where there is no power grid, install a lighting system in a country house or isolated works, etc.
Nowadays, the market offers various types of generator sets for various purposes at different prices. So, before choosing an equipment, you should consider your business or house power needs and do some research.
Types of generators
There are different types of generators. The most widespread ones are portable, standby and whole home and rooftop power generators.
Portable generators are the cheapest ones and can be used for different purposes, powering small appliances or tools, etc. Yet, these types of generators are not able to provide the required power for large businesses and houses. The purpose of portable electric generators is to temporarily supply electricity.
On the other hand, standby generators are higher-priced than the previous ones. Yet, they provide considerably more power and they are installed permanently in one place. The newer models of this type of generator have intelligent systems that allow them to turn on automatically in the event of the main supply failure. This is achieved through a transfer switch which must be installed in the electrical panel of the house.
There are some aspects to consider when understanding how much you need to spend on a generator. The first step is to decide whether you need a portable or standby generator.
Based on the size and power output, portable generators cost $500 to $2,000 USD. On the other hand, standby generators cost from $2,500 to $13,000 USD. To this price, you should also add the professional installation costs (about $1,000 – $2,000).
After that, you need to calculate the power requirements for your home or business proper work. After deciding the type, knowing the required output power, and understanding the costs, it’s time to decide whether you want to buy or rent a generator, or it’s better to look for various generator financing options available in the market.
Buying is the best option when you can spend the required amount at once. Renting could work best, if you need a generator for a short period of time. Financing option is perfect when you are looking for a generator for permanent needs, however, you cannot afford to pay for it at once.
The benefits of generator financing
With generator financing, you benefit from having a backup power for your business and home, spend less on energy expenses, etc. Financing services allow you to have the benefits of generators today and pay for it later. They are a perfect solution for the ones who are looking for a permanent solution against power outages, but they are not ready to spend huge amounts on it at once.
Some of the generator financing benefits are monthly affordable payments, the availability to pay for a generator during months or years, being able to get a comprehensive service package, including the delivery and installation services as well, etc.