If you want backup power during an outage, one might make more financial sense.
Power outages can range from being annoying to downright catastrophic, depending on the circumstances. With the North American Electric Reliability Corporation estimating that a significant portion of the U.S. is at an elevated risk for power outages this summer, due to above-average temperatures and worsening drought conditions, you may be weighing your options for backup power, in the event it happens to you.
What is the difference between a generator and a backup battery?
The main options for backup sources of power are either installing a generator, which runs on fuel, or a backup battery, which stores electricity for when you might need it— and these two options vary in terms of upfront versus long-term costs.
The average cost for installing a generator that will power the entire house is about $15,000. Depending on the type you have installed, this generator will run on either natural gas, diesel, liquid propane, or gasoline.
Backup batteries can range in price from $10,000 to $20,000, plus the cost of installation. (If you want to calculate how much backup power you might need, Lowe’s has a handy worksheet that helps you factor in the total power required for your various appliances.)
The longterm costs of backup power sources
The long-term costs are where these two options differ the most. Although the upfront cost of buying and installing a generator is less than the cost of a battery, it requires fuel to run, which will need to be factored into the overall price. On the other hand, a battery will store power that either comes from the grid or was generated through solar panels.
The cost of running a generator will vary depending on its size and the type of fuel required. For example, a 5kW generator, which can power small appliances or one large appliance, such as the fridge or a clothes washer, consumes about 0.75 gallons of fuel per hour. With gas currently at an average of about $4 a gallon, this would cost about $72 dollars a day. Depending on how often you need to use the generator, that cost can add up.
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