Generac Cashes In on Climate Change: Hurricanes Drive Surge in Generator Sales and Hiring Spree

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Hurricanes are wreaking havoc across the U.S., but for Generac Power Systems, they’re also generating profits and a hiring boom. The Wisconsin-based company, known for its portable and standby generators, is ramping up production and looking to hire 400 new workers as demand for backup power soars. This surge follows the devastation caused by Hurricanes Helene and Milton, which left millions without power, further exposing the fragility of the U.S. energy grid.

Generac CEO Aaron Jagdfeld revealed that every major storm brings in an extra $50 million to $100 million in sales. “There’s going to be a surge over the next 6, 12, 18 months in residential standby units,” Jagdfeld told Reuters, pointing out that states like Florida, Georgia, South Carolina, and Texas, hit hard by recent storms, are likely to see increased demand. However, it’s not just the storms driving this growth—Jagdfeld says climate change is fueling the frequency of extreme weather, creating a cycle of rising sales for the company.

Generac has tracked the deteriorating quality of U.S. power infrastructure, with 1.2 billion outage hours recorded in just the first nine months of this year—the worst since the company began keeping track in 2010. This, combined with changing consumer habits, such as the increased reliance on power for medical devices and electronics, is driving more people to invest in standby generators.

The company has been aggressively expanding its production capacity. In addition to hiring, Generac is building new plants, including one under construction in Wisconsin and another in South Carolina. Ironically, the South Carolina facility was damaged by Hurricane Helene, forcing the company to shift production to other sites. Despite the setback, Generac remains poised for continued growth, with investors driving its stock to a two-year high.

As the climate crisis intensifies, Generac seems to be positioning itself as a winner in the face of disaster—turning hurricanes into hard profits while questions about the ethics of profiting from catastrophe linger.

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