[koheripbal]

Yes. Electricity is cheap and it's housed in an existing office(s).

The real cost is IT talent and time. I happen to have homelab experience with HP servers, so (for us) those costs are extremely low.

It's honestly not as complex or costly as cloud providers make it sound.

Replication offsite is easy via s2s vpn and veeam - as is spinning up new VMs for dev or testing. Building already has good a/c and backup power, and hardware/drive failures are rare.