Electrical – How safe is this power configuration

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I have a regular 2 socket, 15 amp outlet in my garage. I need to run my miter saw and shopvac at the same time, the saw draws 15A and the shopvac 8.5A.

I've currently been running them off one outlet through a 50 foot 14AWG extension cord with a 3 way splitter at the end. The other socket is running to a power strip by an extension cord that is powering by workbench light.

It hasn't tripped the breaker so far.

I know very little about electricity and it's boundaries, how bad is my current set up? What risks are there with this?

UPDATE:
I found an old kill-a-watt meter and tried it out on the setup, here are the results.

Miter saw only
Startup (Peak): 18A
Saw running: 7.5A
Saw cutting: 10A

Shop vac only
Startup (Peak): 12A
Running: 8.4A

Saw and Shop vac:
Shopvac running and then starting saw (peak): 21.6A
Both running: 16A
Both running and saw cutting: 18A

I notice the saw bogs down a bit while cutting and both are running, seems perhaps the motor isn't getting the juice it needs?

I think the answer is clear, I need to get one on another circuit. I thought these were interesting and wanted to share.

Best Answer

Neither device is probably pulling the rated amount, though it might hit those ratings at peak. If you started the vacuum and saw at the exact same time, you might trip the breaker.

Assuming the breaker isn't defective, if it hasn't tripped you're OK from a capacity point of view. Keep in mind there might be other devices on the circuit too.

Ideally you wouldn't use an extension cord at all for this. While you probably won't run into any problems, you might consider a heavier wire gauge for the extension cord. If you don't need all 50', you're also better off with a shorter extension cord.