IMO, cordless tools are far more convenient than their corded counterparts. They are also safer to use outdoors in wet environments. As another poster mentioned, extension cords are also shock and tripping hazards. The new lithium batteries hold their charge many times longer than the old NiCd's and have no memory effect. That means they can be charged after every use without worrying about loosing capacity. They are much lighter as well.
I've now converted 95% of my power tools to cordless. I have 6 wall mounted chargers which I keep on a timer. Whenever I've finished with one, I stick in a charger and turn on the timer for an hour or so. That way, I always have a bank of 6, fully charged at all times.
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These power tool batteries can also be used for a variety of purposes. Using these adapters, you can even make your own tools:
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No need to buy a portable floodlight when you can make one from some aluminum channel, a drawer handle and an old tractor work light. The possible uses for these tool batteries are almost endless, especially in situations where extension cords aren't practical.
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I use them to power portable tractor cameras and even the display. They can be placed almost anywhere without any wiring:
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I even use one to power the brakes in my utility trailer since I can never keep the one on the trailer charged.