My shop is 8X12, and only have one electric tool plugged in at a time. So I figure some plastic bottles of water will work just fine. Tool catches fire, unplug, and pour water on it. Never happened yet, but water can be stashed in several places, so some is instantly available, and the cost is pretty much zip.
"It ain't what you're told, it's what you know." - Granny Weatherwax
Some days, the supply of available curse words is insufficient to meet my demands.
Call me a craftsman, artisan, or artistic, and I will accept that. Call me an artist and you will likely get a quite rude comment in return. I am not a @#$%ing artist.