The geothermal industry is acutely aware that government-issued commercial and residential tax credits are set to expire at the end of 2016. Currently, geothermal heat pumps in commercial applications are eligible for a 10 percent income tax credit, and residential applications may receive up to a 30 percent incentive.
Key drivers include rising population, revival in the housing markets, increases in income levels in emerging markets
February 22, 2016
The global HVAC market is forecast to generate over $68.93 billion in value, at an estimated compound annual growth rate (CAGR) of 4.34 percent, from 2016 to 2022, according to a new report available from Research and Markets.
According to HVAC manufacturers, customers are looking for highly efficient furnaces that shave dollars off their utility bills while providing the best possible levels of comfort. As a result, most furnaces displayed at the AHR Expo were designed to meet these market demands.
Energy efficiency, integration with smart home technology, and the ongoing impact of the U.S. Department of Energy’s (DOE’s) regional efficiency standards are major trends influencing products in the residential air conditioning market.
When it comes to figuring out what the market demands in a boiler, it usually comes down to the highest efficiencies possible along with advances in control technology. Indeed, efficiency and advanced control technologies were on display for most of the boilers introduced at the AHR Expo.
As technology improves, portable equipment manufacturers will continue to work to meet the growing needs of their customers, from those needing small-scale residential solutions all the way up to data centers and factories in need of industrial-grade solutions.
Numerous types of radiant products were on display at the AHR Expo, including heating, cooling, and snow melt systems. And, exhibiting manufacturers were all focused on touting the energy efficiency, sustainability, and safety benefits of their products.