Industry Insight Report: Electrical Contractors Q1-2025
Industry Insight Report: Electrical Contractors Q1-2025
Solar, Battery Storage to Lead 2025 Electricity Generation Growth
US electricity generation capacity additions in 2025 are expected to be led by solar and battery storage projects, according to the US Energy Information Administration (EIA). The US is projected to add 63 gigawatts (GW) of generating capacity in 2025, led by utility-scale solar with 32.5 GW, followed by battery storage (18.2 GW), wind (7.7 GW), and natural gas (4.4 GW). Additions in Texas (11.6 GW) and California (2.9 GW) will account for nearly half of the solar capacity additions in 2025. Other states that are expected to have significant upticks in solar additions in 2025 include Arizona, Florida, Indiana, Michigan, and New York.
News Spotlight:
Creating a Fair Pricing Model for Electrical Services Commercial Construction and Renovation: Full Article »
Industry Forecast
Sales for the US electrical contractors industry are forecast to grow at a 5.07% compounded annual rate from 2025 to 2029, faster than the growth of the overall economy.
By the Numbers
Employment by electrical contractors increases Overall employment by electrical contractors changed 2.7% in January compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at electrical contractors rise Average wages for nonsupervisory employees at electrical contractors were $38.37 per hour in January, a 2.6% change compared to a year ago.
Lion Business Advisors quarterly industry insights data provided by VerticalIQ industry intelligence platform
Industry Insight Report: Electrical Contractors Q1-2025
Solar, Battery Storage to Lead 2025 Electricity Generation Growth
US electricity generation capacity additions in 2025 are expected to be led by solar and battery storage projects, according to the US Energy Information Administration (EIA). The US is projected to add 63 gigawatts (GW) of generating capacity in 2025, led by utility-scale solar with 32.5 GW, followed by battery storage (18.2 GW), wind (7.7 GW), and natural gas (4.4 GW). Additions in Texas (11.6 GW) and California (2.9 GW) will account for nearly half of the solar capacity additions in 2025. Other states that are expected to have significant upticks in solar additions in 2025 include Arizona, Florida, Indiana, Michigan, and New York.
News Spotlight:
Creating a Fair Pricing Model for Electrical Services
Commercial Construction and Renovation: Full Article »
Industry Forecast
Sales for the US electrical contractors industry are forecast to grow at a 5.07% compounded annual rate from 2025 to 2029, faster than the growth of the overall economy.
By the Numbers
Employment by electrical contractors increases
Overall employment by electrical contractors changed 2.7% in January compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at electrical contractors rise
Average wages for nonsupervisory employees at electrical contractors were $38.37 per hour in January, a 2.6% change compared to a year ago.
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