STOCK TITAN

Prepare for Winter Weather-Related Power Outages with Tips from Generac

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Negative)
Tags
Rhea-AI Summary

Generac Power Systems (NYSE: GNRC) warns of increased power outage risks this winter due to harsh conditions and aging electrical grids, as NOAA's forecast predicts below-average temperatures and above-average precipitation in many regions. The president of Consumer Power, Kyle Raabe, emphasizes the need for homeowners to prepare, advocating for backup power solutions like portable and automatic generators. Generac encourages safety precautions, including keeping devices charged and having emergency supplies ready. Their Power Outage Central tool is highlighted for monitoring outages and tips.

Positive
  • Increased demand for backup power products due to expected winter outages.
  • Generac's leadership in the home standby generator market with nearly 80% market share.
Negative
  • Potential strain on the company's resources due to increased demand during harsh weather conditions.

Seasonal Forecast Predicts Harsh Winter Conditions across the United States

WAUKESHA, Wis., Dec. 20, 2022 /PRNewswire/ -- Generac Power Systems (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, is encouraging homeowners and businesses across the United States to prepare for the increased risk of power outages associated with winter weather. 

According to NOAA's 2022-2023 Winter Outlook, parts of the US are predicted to experience below-average temperatures and above-average precipitation. La Niña returns for the third consecutive winter, bringing wetter-than-average conditions for areas of the Ohio Valley, Great Lakes, Northern Rockies, and Pacific Northwest, while severe drought is expected across the Western US and southern Great Plains.

"Much of the United States will face increased chances of power outages this winter, as low temperatures and harsh conditions strain the country's electrical grids," said Kyle Raabe, president of Consumer Power for Generac. "This is only exacerbated by the country's rapidly-aging power grids, making winter power outage preparation more important than ever."

How to Prepare for a Winter Power Outage Emergency
Experiencing a power outage during frigid conditions can be devastating, and it's important for homeowners to have an emergency plan. When planning for a power outage, homeowners need to consider the following tips:

  • Before a winter storm warning, ensure electronic devices are fully charged and have a battery-powered emergency radio ready to check weather conditions and stay current with emergency information
  • Purchase water and non-perishable, nutritious, and protein-rich staples that do not require refrigeration or heat
  • Unplug all appliances during an outage to avoid damage in the case of an electrical surge when the power is restored
  • To safely operate a portable generator, ensure the fuel supply is stable and ready for use. As a rule of thumb, a portable generator will run between nine and 11 hours on 6 to 7 gallons of fuel, if operated at 50 percent load

Long-term damage to the home is possible during an extended winter power outage, especially if the sump pump system is unable to protect the basement from flooding. The best way to be prepared and prevent damage to the home is to secure a backup source of power.

"It's important to consider all available options when thinking about backup power during winter," added Raabe. "While portable generators can easily power up a few appliances straight out of the box, automatic home standby generators offer greater peace of mind and can run continuously until utility power is restored."

Power outages can be monitored this winter with Generac's Power Outage Central tool, with additional seasonal preparedness tips for protecting homes and families from power outages as well as information on home backup power solutions at www.generac.com.

About Generac
Generac Power Systems, Inc. (NYSE: GNRC) is a leading energy technology company that provides advanced power grid software solutions, backup and prime power systems for home and industrial applications, solar + battery storage solutions, virtual power plant platforms and engine- and battery-powered tools and equipment. Founded in 1959, Generac introduced the first affordable backup generator and later created the category of automatic home standby generator - a market in which nearly eight of ten generators sold is a Generac. The company is committed to sustainable, cleaner energy products poised to revolutionize the 21st century electrical grid.

Media Contact: Stephanie Rodgers
stephanie.rodgers@Generac.com
Phone: 262.544.4811 Ext. 4456

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/prepare-for-winter-weather-related-power-outages-with-tips-from-generac-301707581.html

SOURCE Generac Power Systems, Inc.

FAQ

What does the winter forecast predict for the United States regarding power outages?

The forecast indicates an increased risk of power outages this winter due to harsh conditions and an aging electrical grid.

How is Generac preparing for winter power outages?

Generac is advising homeowners to prepare for power outages by ensuring backup power solutions are ready and offering tips on emergency preparedness.

What market position does Generac hold in the generator industry?

Generac holds nearly 80% market share in the home standby generator category.

What kind of products does Generac offer for power outages?

Generac offers both portable and automatic home standby generators to help during power outages.

Where can I find more tips on preparing for winter power outages?

You can find more tips and resources at Generac's Power Outage Central on their official website.

GENERAC HOLDINGS INC

NYSE:GNRC

GNRC Rankings

GNRC Latest News

GNRC Stock Data

10.88B
59.50M
1.71%
89.72%
4.03%
Specialty Industrial Machinery
Motors & Generators
Link
United States of America
WAUKESHA