By Engineering News Record
Mortenson's Tim Maag shares an insight on what he expects in the energy sector for the coming year:
"In 2019 and 2020, an unprecedented level of wind installations has the potential to create supply chain constraints, especially in regard to labor, materials, equipment and logistics. In addition, the challenge of increasing tariffs will continue to present price uncertainty for the renewable energy industry. EPC contractors are working diligently on resource strategies in order to mitigate potential impacts and help customers meet ambitious [production tax credit] goals."
—Tim Maag, vice president and general manager of wind at Mortenson
Other insights include:
- Power projects are expected to increase between 3% and 8% over 2018, exceeding overall expected construction growth of between 2% to 5%
- Utility-scale electricity generation from natural gas-fired power plants will continue to increase while other sources of generation will remain relatively flat
- Petrochemical growth along the Gulf Coast will have a flat outlook for 2019 because of a slow-down in Asian demand, increased interest rates and continued trade policy uncertainties
ENR subscribers can read the full story here.