Contractors Brace for Boom in Renewable Energy Projects

The renewable energy sector is preparing for a boom over the next five years and the fossil fuels industry is fighting hard to hold its place in the battle for power. That all bodes well for the construction industry, which will greatly benefit from the expansion, if longstanding pricing and materials acquisition challenges can be overcome. According to MIT Technology Review, renewables will make up 95 percent of overall capacity growth in the power sector over the next five years. The Infrastructure Investment and Jobs Act (IIJA) includes major programs that bode well for construction contractors working in the energy sector, from support for electrification of the transportation system to building out the transmission grid and renewable power.

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