A Study on Loss Analysis and Economic Evaluation for Electrical Fire Prevention Based on Statistical Data Analysis

This paper utilized statistical data to assess the losses caused by electrical fires and proposed a risk assessment methodology grounded in electrical fire statistics. The proposed methodology quantified the monetary value of human and material losses to evaluate the economic benefits of electrical fire prevention measures. These findings provide a foundation for assessing the cost-effectiveness of electrical fire prevention strategies, including the implementation of technologies such as arc-fault circuit interrupters and other advanced prevention devices. The study compared the time in service of a building's electrical wiring with the frequency of electrical fires and confirmed that wiring aging, previously regarded as a major hazard, is less significant than earlier assessments suggested. Furthermore, an analysis of electrical fire distribution across various types of multi-use facilities revealed how fire frequency and severity vary, offering insights into targeted strategies for mitigating electrical fire risks.