Power construction picked up steam in 2014, gaining 11% to reach $100.8 billion of construction put in place. However, the forecast for 2015 shows a sharp slowdown of -5.0%. But growth should again turn positive in 2016.
The power industry is in flux due to changing fuel supplies — using more natural gas and less coal as well as variable rates of growth in alternative energy sources like solar and wind. Power plants are upgrading to keep up with new environmental requirements as well as improve the ability to manage distributed generation sources. Despite losing subsidies and the lower cost of oil and gas, wind and solar power generation facilities continue to grow.
