Wireless power transfer (WPT) is an alternative technology to conventional batteries for powering Internet of things (IoT) devices. WPT is especially beneficial in situations when battery replacement is infeasible or expensive. It can also reduce battery-related e-waste. In this paper, we analyze the limits of adopting WPT technology for remote powering of IoT devices. We assume that an IoT device periodically harvests energy from a base station (BS) and transmits a data packet related to the sensor measurement under shadow fading channel conditions. Our goal is to characterize the epsilon-coverage range, where epsilon is the probability of the coverage. Our analysis shows a tradeoff between the coverage range and the rate of sensor measurements, where the maximal epsilon-coverage range is achieved as the sensor measurement rate approaches zero. We demonstrate that the weighted sum of the sleep power consumption and the harvesting sensitivity power of an IoT device limits the maximal e-coverage range. Beyond that range, the IoT device cannot harvest enough energy to operate. The desired rate of the sensor measurements also significantly impacts the epsilon-coverage range. Our results suggest that for an IoT device designed using current technology, the maximal 0.95-coverage range is in the order of 120 m. When high measurement rates are required, the coverage range drops to 50-100 m. Compared to battery-powered IoT devices, WPT is well-suited for medium-range applications plus when battery replacement is costly.