Thinking of making some electrical improvements to your office building? Perhaps you could do with some extra sockets so that you’re not having to rely on power strips? Perhaps you could do so by installing some extra lighting to make your office brighter? Or maybe there are ways of updating your electrics that could make your office safer or more energy-efficient?
There are lots of ways in which you may be able to improve your office building’s electrics. Now may seem as good a time as ever to hire an electrical contractor and get these improvements underway. But wait – what about the electrical components shortage?
Manufacturers are currently struggling to keep up with the demand for electrical components. This has led to a worldwide increase in the cost of the electrical components, as well as increased lead times for the delivery of parts.
Due to this shortage, you can expect the cost of electrical repairs and installations to be a lot more expensive than it was a year ago. Certain components may also take a while to be ordered in.
Should you wait until prices and lead times decrease? You could do, but you may be waiting a while. There’s no guarantee that prices or lead times will go down. In fact, reports project that prices and lead times will only increase for certain components. So maybe now is a good time to get any electrical work underway.
The infographic below offers more information about the electrical component shortage.
2022 Q2 projections of electrical supplies including switches