Like many other professions these days, electricians depend upon a certain amount of growth in their industry for job security. Though some sectors seem to be growing rapidly, others are being eliminated by new technologies. So where do electricians stand in this mix?
According to the Bureau of Labor Statistics, electrical contractors can expect a 14 percent growth rate between now and 2024. This translates to 85,900 new jobs over the next seven years. The reasons for this consistent growth are very solid. We discuss them at length below.
An aging infrastructure
As America’s infrastructure ages, we’re seeing more bridges collapse, more highways disintegrate and older buildings in need of major repairs. All these will need workers to repair and rebuild them. What most structures have in common is the need for electrical power.
Increasing demand for alternative energy
The world once thought that oil and coal were our only real sources of energy, but newer breakthroughs in alternative energy have proven otherwise. New discoveries have made wind and solar power much more affordable. In fact, since 2009, the cost of solar energy has dropped by about 70 percent. Large commercial installers like Solar City and Panasonic have also developed much more efficient solar panels. New research in how to harness the power of tidal waves is in its infancy but experts believe this is a very viable method of powering our world.
Homeowners wishing to upgrade to Smart Technology
The latest innovation for homeowners today is to convert their current heating and air conditioning system to include Smart Technology. With this improvement, homeowners can better control their energy usage. But they can also control all their appliances, lighting, media and home security. In fact, it is now possible to regulate anything in your home that uses electricity using a smartphone or computer.
What’s the median income for electricians?
At the moment, the national average income for qualified electricians is $51,880. That number varies depending upon where you live and how much training and experience you’ve had. An apprentice electrician customarily earns between 30 and 50 percent less than a journeyman electrician.
The future for electrical contractors
The future looks exciting for our world with all the new discoveries including self-driven cars, smart homes, building automation and alternative energy. But all these amazing inventions will require highly skilled electricians. This means more jobs and better jobs for electricians. Those working now as a electricians may see a better future for their families by establishing their own electrical contracting company.
Tips for success
All it takes is a good work van, hard-working employees, the right tools and a head for business. As your company grows, you can add more employees, tools and cargo vans. The best tip for success is to maintain a good reputation in your industry. With access to the internet now so prevalent, one bad review of your business can be costly. Do a good job, be friendly and leave your business card everywhere you go. From time to time, we will all need the number of a reliable electrician.
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