Calculating the Total Cost of Ownership (TCO) in Pump Operations
Understanding the Total Cost of Ownership (TCO) is crucial for accurately assessing the expenses associated with acquiring and managing your pump. Looking at the purchase price alone doesn’t allow you to consider the savings and other costs which impact your operations. TCO takes into consideration all the direct and indirect costs associated with buying and using a pump, over it’s expected lifetime. It includes more obvious costs, including funding costs, maintenance and repairs, and less visible costs, such as operator training, spare parts inventory, and the cost of disposal. As a pump buyer, you need to be aware of these and we explain them in more detail below.
How much does it cost to run an energy-efficient pump?
While you may already be familiar with some of the factors influencing the operation and ownership of a pump, but there may be things you aren’t aware of that indirectly affect costs. We’ve listed these below:
Pump Cost
One of the largest expenditures in the TCO process is the procurement of pumps, particularly as certain types of pumps may incur higher costs, such as those designed for specialised applications. Some pumps may require a larger upfront investment, but evaluating the total cost over time, especially with fluctuating costs for everything from materials and energy, is essential for making informed decisions.
Operating Sustainably
Factoring in the costs of operating pumps, including energy consumption and adherence to environmental regulations, is crucial. While electricity costs may fluctuate, the environmental impact of pump operation must also be assessed. Switching to a more efficient pump solution can boost your sustainability credentials due to the positive impact you’ll be making towards reducing your footprint. Valuing sustainability within your pump operations can attract employees, customers and suppliers who are looking to work with a responsible business.
Servicing, Maintenance, and Repair
Similar to everything else mechanical, pumps require regular servicing to maintain performance and longevity. However, compared to traditional pumps, smart pumps may require fewer maintenance requirements, leading to potential cost savings over time. Ensuring timely maintenance is crucial for upholding warranty agreements and prolonging the pump’s lifespan. It is important that service, maintenance and repair is maintained throughout your pump’s lifetime, especially as newer pumps can have their warranty voided if you don’t. All our qualified Trebles engineers have the latest technology and equipment to keep your business operations flowing.
Disposal costs
Planning for the disposal of pumps at the end of their lifecycle is essential for seamless pump operation and management. Trebles can support your business by managing the disposal and replacement process for your pump.
Saving on pump costs
Upgrading to an energy-efficient pump solution presents opportunities for cost savings. By speaking with a pump specialist, they can provide expertise and insights into selecting the most suitable equipment for your needs. While pump management services may seem very involved, the benefits often outweigh the expenses, offering insights for optimising pump performance, ensuring compliance, and facilitating equipment procurement and maintenance.
How can Trebles help with the Total Cost of Ownership?
Our specialised team can help your business move towards a pump upgrade. At Trebles, we understand the complexity of transitioning to a more energy-efficient pump, and strive to simplify the process for our customers. Using our in-house TCO expertise, you’ll be provided with an analysis of the total cost of ownership. Our downloadable TCO Insight Report offers essential information and guidance on various aspects, including:
- Consultancy services to support the upgrade
- Pump cost breakdown
- Operator training
- Upgrading equipment
- Additional costs associated with the process
Download our interactive Total Cost of Ownership Insight Report to learn more: