“According to the Institute of Electrical and Electronic Engineers, the risk of failure of electrical distribution components is 3x higher without preventive maintenance.”
System entropy is the reason: heating/cooling causes expansion/contraction, connections loosen, arcing occurs, breaker contacts and grounding fail. This chart compares % of failures without preventive maintenance (blue area) vs. % failures with preventive maintenance (red) for EDS components. Electrical distribution assets typically are valued at 10-15% of a building’s total construction cost and can easily reach $1.0 million in replacement value. Not counting additional damage caused by fire or cascading damage to the electrical system and attached devices such as computers and controllers, or injury caused by shock or arc flash, an owner will spend several thousand dollars per year performing unplanned repairs to failed electrical equipment . Preventive maintenance costs much less than this, and avoids business interruptions, collateral damage, and injuries.