Looking Beyond Purchase Price: Evaluating the Total Cost of Lab Cold Storage
While it's easy to focus on the upfront cost of a new laboratory freezer or refrigerator, the true cost is built up over the course of its life. There are numerous hidden factors that can contribute to total cost of ownership (TCO) of a cold storage unit.
Here, we break down some of the key considerations for evaluating and reducing those costs, so you can choose the right cold storage solution for your needs while keeping expenses under control.
Floor space requirements
An often-overlooked aspect of TCO is the price of the floor space a unit takes up in the lab. When planning your cold storage purchase, then, consider how much floor space will be consumed and whether the unit will impede effective use of the surrounding lab space. It may be the case that a smaller unit will adequately fit your needs.
The price of lab space per sq. ft can vary significantly depending on location, so make sure you look at floor space prices relevant to your area.
Energy efficiency and voltage requirements
One of the most important considerations when calculating the TCO of a unit is its energy efficiency. Equipment that is more energy efficient consumes less power and tends to emit less heat into the lab. This directly reduces operating costs by lowering electricity usage of both the cold storage unit and the lab’s HVAC systems. Over time, this can result in significant savings that may offset a higher purchase price.
When evaluating energy efficacy, look out for:
- ENERGY STAR® ratings: look for the official ENERGY STAR logo. This demonstrates that unit energy efficiency has been tested using standardized ENERGY STAR methods, allowing for easy comparisons across models
- Testing conditions: be aware that variations in energy efficiency testing conditions can lead to different results. For instance, the use of accessories or differences in ambient temperatures can affect unit energy consumption
Additionally, costs can be impacted by a unit’s voltage requirements. Equipment designed for a specific voltage might require costly additional installations if the lab’s existing infrastructure does not support it. To eliminate this potential cost, look for units with dual voltage capabilities.
Reliability
An unreliable cold storage unit can soon drive-up costs. Because an unreliable unit's parts are more liable to break, the cost of repairs and replacements can quickly accumulate. Moreover, the potential resulting loss of productivity and samples from unexpected equipment downtime can further increase expenses.
With reliability having such a big effect on TCO, effectively evaluating it is essential - but can be difficult due to a lack of standardized data. However, there are some actions you can take to build up a picture of equipment reliability:
When evaluating energy efficacy, look out for:
- Talk to colleagues: talk to people within your organization who have experience with the unit you are thinking of purchasing, especially repair technicians, as they will be able to provide insights into common issues.
- Consult public and professional social media forums: this can provide a good overview of the community consensus on a unit. However, remain diligent, as information on social media may not always be reliable.
- Look for equipment providers with decades of experience: companies generally don’t survive long if they don’t provide high-quality equipment that lasts.
- Ask the vendor about their data and testing practices: ask vendors specific questions on how they assess reliability, their component failure rates, and common reasons for repairs.
Maintenance
Regular maintenance is crucial for extending the life of cold storage units, preventing costly breakdowns, and minimizing downtime. By keeping a unit in optimal condition, you can save money on repairs and protect your valuable samples.
To keep TCO low, look for units with features that reduce maintenance requirements or make maintenance easier, such as frost reduction in ULT freezers.
Warranties
The type of warranty that accompanies a cold storage unit can have a significant impact on its TCO. To reduce overall costs, decision makers should look for a parts and labor warranty, as opposed to a parts-only warranty.
Parts are often only a small fraction of the total cost of repair, so a parts-only warranty can leave you with high labor costs and added work needed to arrange and manage the repairs. With a parts and labor warranty, both are covered, potentially saving time and costs in the long run.
Assessing a cold storage unit's total cost of ownership doesn’t end here. To delve deeper into understanding and assessing TCO before you purchase cold storage equipment, explore our new eBook.