Project overruns are so common that a 2024 McKinsey update called schedule slippage “the new normal,” with approximately 70% of large jobs finishing late worldwide. The update argued that narrowing this gap depends on data-driven interventions, especially artificial intelligence, because traditional critical path methods can’t keep pace with today’s multitrade, multisupplier complexity.
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The Inflation Reduction Act (IRA) transformed the solar Investment Tax Credit (ITC) in 2022, and the Internal Revenue Service spent the next two years writing the fine print. 2025 is the first calendar year in which most of the rules take effect. Contractors, EPCs, and module suppliers that understand the new solar tax credit framework can capture as much as 50% of project cost in federal incentives, while missteps could leave money on the table.
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The construction industry’s digital transformation is no longer theoretical. Over the past 12 months, several breakthrough tools have progressed from pilot tests to job-site staples, promising to trim schedules, improve safety, and lower the total cost of every build. Below is a snapshot of five innovations worth tracking.
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Surety Bond Professionals is a family-owned and operated bonding agency with over 75 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bond needs.
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Surety Bond Professionals is a family-owned and operated bonding agency with over 75 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bond needs.
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Challenges Facing Women-Owned Construction Companies Women have made undeniable progress in the construction sector, yet it remains one of the most gender-segregated industries in the U.S. Following a decade that saw a 45% surge in women participating in the industry in some capacity, they account for only 11.2% of construction employees. And only about 13% of construction businesses are women-owned. These numbers underscore the steep climb that women-owned construction companies (WCCs) still face. But they also reveal an enormous opportunity for WCCs that overcome the systemic hurdles.
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Turning an open field into a revenue-generating power plant demands disciplined execution. From the first sun-angle study to the last preventive-maintenance ticket, each phase carries distinct opportunities and risks for contractors.
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When contractors apply for construction bonds, sureties assess the risk associated with approving them for the requested amount. They look closely at such factors as a contractor’s working capital, net worth, work backlog, and management experience. This risk assessment determines the bonding capacity for MBE contractors and other small firms seeking growth.
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Contractors seldom think of surety bonds as strategic tools, yet the right bonding program can determine whether a 100-MW solar farm or a 250-MW wind park reaches commercial operation—and whether it is responsibly removed decades later at the end of its useful life. Because renewable assets “live” far longer than the construction schedule, bonding obligations evolve over time. This article outlines the bonds most often required on utility-scale and large commercial and industrial projects (roughly 10 MW to 500 MW), with pointers on how contractors can stay ahead of the curve. For a broader overview of how surety bonds support renewable projects from development to decommissioning, see our guide on surety bonds in renewable energy projects.
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