The Cost of Electrical Supplies
Most people are well aware that the price of electrical supplies has increased a lot price over the past few years. It has made much news and been a topic of conversation for many families, friends, and business partners. If you are an electrician or are planning on building a new home, you will surely know that as well. In light of that, whether you are an electrical contractor or a new homeowner, let’s take a look at why and how to make sure that you get the most value out of your home improvement investment.
Why are electrical supplies so expensive?
There are several reasons for this, but the main one is the cost of copper. And why has the cost of copper increase so much in the past few years? That is because the supply is very limited and the demand for copper is very high currently. Although the cost of copper was increasing before the pandemic, it has increased a lot more during it. Why is that happening?
First, the Chinese seem to be purchasing about 50% of the copper produced and recycled around the world to make wire at the moment. This limits the supply everywhere else. Every country seems to be competing to get copper right now. Second, with the recent pandemic situation, a large percentage of Americans looked into improving their house as they stayed at home most of the time. Some made big changes to allow them to work from home comfort as well. This is true for the rest of the world as well. Copper is highly wanted for most electrical projects and there are few alternatives to it. Finally, and unfortunately, there is also a shortage of workers from industrial jobs, transportation, all the way to electricians. It also seems that buying in large volume is not cheaper anymore since the supply is low. So those who bought large amounts to be able to keep the cost of their services low no longer can afford to do that.
Electrical Prices in Santa Barbara
We, unfortunately, have experienced all of the above situations in our electrical company here in Santa Barbara as well. The prices for materials have increased significantly and we were forced to increase our prices accordingly. We have increased it according to the material costs, and continue to purchase materials that fall into our standards for quality and durability to increase your long-term satisfaction and safety.
What You Need to Know
For you as a consumer, be sure to compare and don’t trust any services that appear very cheap compared with the average quotes you got. If the company A and B seem to charge equally and company C charges half, surely you will not get the materials you need and probably will get some sort of shortcut that can lead to big problems and expensive costs later on.
Thankfully we continue to be able to provide free quotes and are happy to detail the costs and services for you to trust us and understand why we are recommending certain options.
