In which we briefly discuss the power grid, jobs and what it means for you.
The good news is the Inflation Reduction Act (IRA) and bipartisan Infrastructure Investment and Jobs Act invest billions of dollars to upgrade the nation’s electrical grid.
courtesy Carbon Collective
(a connected grid enables operators to send power from places where there is plenty of electricity – say Arizona – to places where demand is super high – say Oklahoma during a deep freeze)
Dollars going to infrastructure are a major reason construction spending has jumped..it’s now more than a third higher than pre-COVID
Paralleling investment, construction employment has dramatically increased and is well above pre-pandemic rates..
source – FRED
What does this mean for you?
More investment = reliable infrastructure + more jobs = higher payrolls = higher premiums.
A very good explanation of the grid, transmission, and electricity production is here.
In addition, these jobs qualify for Prevailing Wages under the Davis-Bacon Act. Much higher than typical wage rates for non union labor.