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Lightning protection systems - What they do and don't do. A lightning protection system's only purpose is to ensure safety to a building and its occupants if lightning happens to hit it directly, a task accomplished by providing a good, safe path to ground for the lightning to follow.
But the reason they go bad has more to do with their environment than with their age. The protective components inside surge protectors work by either absorbing over-voltage spikes outright or shunting them to ground. This keeps the amount of over-voltage reaching your device(s) to a minimum.