In a rapid-fire series, President Barack Obama and Energy Secretary Steven Chu announced $773 million in funding under the American Reinvestment and Recovery Act for geothermal and solar-energy projects. On May 27, Obama announced $350 million for geothermal demonstration projects, research and development, and other geothermal initiatives. He also announced $117.6 million for solar technology development and deployment. On June 1, Chu said the Energy Dept. would invest $156 million in combined heat and power, district energy systems, waste-energy recovery systems and equipment; $50 million in energy efficiency for information and communication technology; and $50 million for advanced clean-energy materials
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.