Losing power was annoying before the COVID-19 pandemic, but now with so many people working from home, it’s devastating. It doesn’t just shut down your ability to keep your food from spoiling or charging your phone, it prevents you from making money and providing for your family.
It’s not something you can just wait out anymore.
So what are you supposed to do about it? The best option is to turn to a generator instead, but buying and installing one can cost a lot of money upfront.
We’ve put together this guide to show you the cost of generators so you can put together a realistic budget. Make sure you keep reading below for some helpful tips!
The Total Cost of a Home Generator: Breaking It Down
“How much do home generators cost?”
Before you ask yourself this question, you need to take a few steps back first. There are a number of factors that will affect the total price of your generator. For example, buying and installing a generator in your home can cost anywhere between a few hundred dollars to over $10,000.
But that wide range isn’t very helpful when you’re trying to put together a budget for the job.
Because of this, you need to start by asking yourself a few different questions. Make sure you figure out the following things before shopping for your generator.
“What Type of Generator Do I Need?”
Think about what you want to do with your generator. Do you want something you can move around with you to different locations? Or do you want to set your home up with a generator that can keep powering your appliances in the event of a blackout?
There are two main types of generators to choose from: portable and whole-house, or standby units.
Keep in mind, despite their name, portable generators can be a good source of power for your home in emergencies. Don’t rule this type of generator out simply because it is smaller and less powerful. It may have all the capacity you need.
Here’s what you need to know about each option.
Portable Generator
Portable generators are small units that are, as the name suggests, easy to move. They are powered by diesel fuel or gas, and they are capable of powering several appliances or electronic devices.
However, these generators don’t last nearly as long as larger models.
Whole-House Generator
This type of generator is powered by an electrical system. It will turn on when your home loses power (or you can set it to run whenever you want), and it can power any appliance you need.
This does depend on size, though.
Smaller generators won’t be able to keep your entire house running. If you want to be able to use all of the appliances in your house at the same time, you’ll need a large, powerful unit.
“What Appliances Do I Want to Power?”
To figure out the right generator size, you first need to decide what appliances you want to power if you lose electricity. Once you know what you want, you need to take a look at the generator’s capacity.
For example, let’s say you want to be able to use the refrigerator and your HVAC system while keeping all the lights in your house working. You’ll need to have a generator with at least 7 to 12kW (or kilowatts). If you want to keep using your house like normal, the generator will need between 16 to 48kW (depending on the size of your home).
Keep in mind, the bigger the generator, the more you can expect to spend.
A generator with 7 to 12kW will cost you about $2,000 to $4,000. A generator strong enough to power all the appliances in your house can be as high as $15,000.
“What Type of Installation Do I Need?”
Portable, or emergency generators, are much easy to install than whole-house generators. All you have to do is plug it directly into the appliances you want to power.
A whole-house generator, on the other hand, requires professional installation. You will have to connect it to your home’s electrical system and set up a transfer switch, which takes a lot more work.
Because of this, you’ll have to pay extra money for the setup. When you’re thinking about how much you’ll spend on your generator, don’t forget to factor it into your budget.
“What Does My Budget Look Like?”
When planning generator costs, you have to think about your bank account.
If not, you might want to stick to a portable generator. They tend to cost between $200 to $2,000 (at most), so they can give you power in an emergency without making you go into debt.
You shouldn’t try to install a whole-house generator unless you have the money to do so. If you don’t want to settle for a portable generator, it’s a better idea to save for a few extra months or years so you don’t hurt your wallet in the process.
So What Is the Final Cost of Generators for Your Home?
There’s no one-size-fits-all answer to this question. It all depends on the type of unit you get, the number of appliances you want to power, and what you can afford. When it comes to figuring out the cost of generators, make sure you stick to the tips on this guide to plan your budget.
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