Generac designs and manufactures power generation and energy management equipment. Its core product is the home standby generator — a permanently installed, natural gas or propane-fueled backup generator that automatically activates during a power outage — where Generac claims over 70% U.S. market share. Generac sells these through a network of roughly 9,400 independent dealers, and residential products make up about 54% of revenue. Power outage activity is the single most important demand driver; major outage events can swing demand by $50M–$100M. Only about 6.75% of the addressable U.S. market has a home standby generator installed, so Generac views penetration growth as a long-term organic opportunity. Beyond home standby, Generac sells portable generators through retail, commercial and industrial (C&I) generators to businesses, telecom carriers, and data centers, and a residential energy ecosystem including PWRcell battery storage and ecobee smart thermostats. C&I products are about 35% of revenue and sold through industrial distributors, direct to large accounts, and rental companies. Generac launched a new line of large megawatt diesel generators for data centers in 2025 and has built roughly a $400M backlog in this segment, targeting a doubling of C&I revenue over the next 3–5 years. Generac's clean energy products (PWRcell, ecobee) remain a drag on profitability, though ecobee turned EBITDA-positive in 2025, and Generac targets breakeven for the broader clean energy group by 2027.