It’s no secret that many building and construction costs have seen a HUGE hike in price since the beginning of the COVID pandemic. Numerous trades in the building industry have seen shortages of supply and spikes in demand. Incredible market demand has also contributed to local and national vendors rapidly increasing material costs for standard building materials.
Our purchasing agent has surveyed historical prices of electrical supplies from local and national vendors and the price of many of the most commonly used electrical materials has more than tripled. Below are some examples of the increase in commonly used materials:
1. 2″ schedule 40 PVC conduit
> $0.91 /foot December 2020
> $2.60 /foot January 2021
> $3.98 /foot current price (price increased by more than x4 !)
2. 2″ schedule 80 PVC conduit
> $1.50 /foot December 2020
> $4.54 /foot January 2021
> $6.96 /foot current price (price increased by more than x4.5 !)
3. 2″ IMC Conduit
> $6.78 /foot December 2020
> $9.50 /foot January 2021
> $12.64 /foot current price (price nearly doubled!)
4. 6/3 NM-B Copper wire
> $2.17 /foot December 2020
> $3.29 /foot January 2021
> $6.89 /foot current price (price increased by more than x3!)
5. 14/2 NM-B Copper wire
> $0.26 /foot December 2020
> $0.38 /foot January 2021
> $0.78 /foot current price (price increased by x3!)
Our desire is to lead with transparency and to provide total clarity about changes you might see or experience in our pricing.
We are intentionally managing healthy growth in order to be able to respond in an effective and timely manner to your needs. If you have an electrical or energy infrastructure project, please contact us for an estimate. If you are considering or know someone who is considering a career transition, we are hiring! If you haven’t connected with us recently, give us a call and say hi.
Have a safe and blessed summer and we look forward to connecting again soon.
Director of Marketing