#MotorTalkMonday – lowering cost of ownership
Cost of ownership is calculated by adding your purchase price, cost of running, and the cost of not running. The cost of running is based on energy price and annual running hours over 20 years, and the cost of not running is based on one unplanned motor failure per year over 20 years. Taking into consideration the costs of running and not running, the purchase price is typically less than 3% of the total cost of ownership! Even if you reduce the purchasing cost of your motor by 50%, it would only reduce the overall cost of ownership by about 0.1%. On the flip side, if you can lower your costs of running and not running by 5%, you would decrease the total cost of ownership by about 5%!
So how can you reduce the costs of running and not running? One of the easiest ways to do this is by purchasing a more efficient motor. The more efficient the motor, the lower the costs of running and not running. ABB’s SP4 motor, for example, can significantly reduce cost of ownership as compared to a less efficient motor.
Some other options that help lower the cost of ownership include getting an energy appraisal, using ABB Ability™ Smart Sensors to monitor performance and predict maintenance, and making sure your motors are running cool. For more information, check out this video!
Ready to talk about how the SP4 motor or other ABB offerings could help reduce your cost of ownership? Give us a call today at (918)366-9320!
