If you are in the market for an industrial generator, the first thing you will have to decide is whether you should purchase vs rent such an important piece of equipment. While the initial price of a generator is enough to give anyone sticker shock, renting a generator comes with its own set of considerations. Before you decide what is best for your business (and wallet), consider the answers to the following five questions.
Investing In A Stable Power Supply
Many industries use generators. Whether it’s to supply power to an off-grid location or to ensure a steady, stable supply of power during an emergency, industrial generators provide reliable power for many applications. But they can be expensive, so weighing the decision to purchase vs. rent should be taken seriously. Here are five questions you can ask to help you make your decision easier.
- How much do you rely on power? If your business relies on time-sensitive processes, a power outage can lead to expensive disruptions. In this case, buying an automatic generator that comes on whenever there is a power failure can help minimize losses.
- How often do you need backup power? If you only use a generator during power outages, renting a generator might be a good option – as long as you don’t mind the delay in power restoration. But if you need power restored immediately, it may be better to have your standby system ready.
- Can you handle the cost of maintenance and repairs? If you purchase a generator, you need to make sure it is safe and well-maintained. In addition to the up-front cost, you will need to consider the cost of replacement parts or how much it costs to hire a trained technician for routine maintenance services.
- What can you afford? When you purchase a generator, you need to find one that can power everything you will need during a power outage. This can be quite expensive. If you are a smaller business, a generator rental cost may make more sense than the cost of ownership over the long term.
- Where do you need power? If you work in remote locations, renting a generator and having it delivered to your location might be easier than having your crew worry about the setup. You can also rent generators appropriate to your power needs if this varies by the size of the job.
Should You Buy Or Rent An Industrial Generator?
The decision to purchase vs rent an industrial generator often comes down to money. If you only need a generator for a short period, incurring a generator rental cost may make sense. But if you need to run the generator in a remote area, where grid power is not available, purchasing a generator could pay off in the long run. Ultimately, you have to weigh the pros and cons of each option before you make your decision. This often depends on your unique circumstances as well as your preferences.
Buying Vs. Renting An Industrial Generator
To buy or to rent? Your choice will be influenced by several things, including your business’ size and financial capabilities. The first thing that you should do is review the pros and cons of each available option.
Pros
- The generator is always on-site and ready to go in the event your business experiences a power loss. You won’t have to waste time and lose productivity by having to find a generator rental in an emergency.
- You can purchase a generator with the exact features you want and the appropriate power capacity to handle your facility’s energy demands.
- You own the generator, so you won’t have to worry about rental contracts or ongoing payments.
Cons
- The initial cost of an industrial generator can be quite high.
- You will be responsible for the ongoing maintenance that ensures peak performance and longevity.
- Eventually, the repeated use of the generator will make it less efficient and you will have to consider purchasing a new one.
Renting An Industrial Generator
If you do not use a generator frequently or foresee a constant need for standby power, renting a generator on a case-by-case basis may be right for you.
Pros
- A generator rental company will handle the unit’s maintenance, so you won’t have to worry about upkeep.
- Generator rental cost is substantially less expensive at the outset, which can be beneficial if you don’t see yourself needing to use the system as a frequent backup.
- You can try out different types of generators before choosing one to invest in for your business.
Cons
- Renting a generator for an extended time can be expensive. Only consider renting a generator for short-term projects.
- To avoid additional costs, you must ensure the generator isn’t damaged during use.
- You won’t be able to get the same level of customization that you could achieve by purchasing a unit.
Emergency Rentals For Emergency Situations
Of course, true emergencies require immediate solutions. If you need a rental generator as quickly as possible, some companies can deploy emergency rental generators at a moment’s notice. Emergency rental generators offer flexible solutions tailored to your specific needs and ensure that critical operations stay powered during outages. If you need your operations running smoothly in the face of unexpected challenges, an emergency rental generator may be a good option for you.
The Final Word: Take It On A Case By Case Basis
To purchase vs rent a generator? There are distinct advantages to both owning and renting an industrial generator. But the decision can only be made on a case-by-case basis, depending on a variety of factors that only businesses or owner-operators can answer. Talking it through with a reputable generator retailer can help!
