A hardware pay-per-use system and corresponding method allow computer system operators to tailor their hardware utilization to more closely match changing customer demands. The hardware pay-per-use system includes one or more hardware products and a metering mechanism coupled to at least one of the hardware products. The metering mechanism includes a hardware device separate from the hardware products. The metering mechanism acquires metrics data from the hardware products, the metrics data related to an operation at the hardware products. The metering mechanism determines data to report on the operation of the hardware products. A usage repository coupled to the metering mechanism receives the determined data and generates usage reports related to the operation of the hardware products.