Your Business

 

 

Articles in this section are intended to help electrical contractors grow and improve their businesses, from financial and legal advice to creating a service and maintenance department. You’ll find articles on estimating projects and more below. 

While energy innovation enjoys a surge of popularity, one crucial element is still lacking: financing.

On a $28 million infrastructure contract, a contractor suffered an $11 million loss because of high charges by the utility companies for their part of the installation. The contractor, it turned out, got no remedy in court and, therefore, no means of recouping this major loss.


Along with many new trends that electrical contractors are finding themselves involved with these days, there are some surprises. While ECs have traditionally wired the power for elevators, much of the work has been left to mechanical contractors.

According to the Consortium for Energy ­Efficiency’s 2013 State of the Efficiency Program Industry report, “U.S. and Canadian combined gas and electric Demand Side Management program budgets reached $9.6 billion in 2013, representing a 2 percent increase over 2012 DSM budgets.

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“NECA is the voice of the $130 billion electrical construction industry that brings power, light, and communication technology to buildings and communities across the U.S.”


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For commercial structures, certification tests document that a building’s voice/data/video network complies with industry standards.


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As society undergoes profound changes in its relationship with electrical power, so does the need to train the professionals who install the technology that delivers and harnesses it.


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Every month, we pick the top Ideas That Work submitted by you, ELECTRICAL CONTRACTOR readers.

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According to a report by MarketsandMarkets research firm, the wireless-power-transmission market will reach $17.04 billion by 2020, growing at a combined annual growth rate (CAGR) of 60.49 percent from 2014 to 2020.


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