In 1980, only 50% of homes in the Northeast had central air conditioning in their home in comparison to over 85% today. Not only has air conditioning become standard equipment in the home but most of us would say we couldn’t live without it! So what’s the next must-have for your home? Standby generators. Over the next 20 years, the market is predicting that 30 – 50% of homes in the U.S. will have a standby generator. In today’s market, almost every builder in the area is including a generator or hook-up for a generator in every new home they build and they add about $5,000 to the value of a home in Fairfield County.
Here are some reasons why we will continue to see more demand for them:
- Power outages that have duration of 24 hours or more have tripled since 1978 in the U.S.
- 40% of the U.S. power grid is over 40 years old
- Demand for electricity in the U.S. will increase by 18% in the next 10 years while grid improvements will increase by only 8.4%
- Demand for electricity is expected to rise by 30% in the next few decades (ii)
i. Residential Energy Consumption Survey, US Energy Information Administration. http://www.eia.gov/consumption/residential/reports/2009/air-conditioning.cfm
ii. Kohler Co.