Residential momentum continues, commercial is stable
July 11, 2016
The U.S. residential HVAC market is forecast to see significant growth due to lower unemployment and gas prices, coupled with higher consumer confidence and pent-up demand. The commercial HVAC market is expected to see more steady growth.
Purchase price represents a premium of approximately 38 percent to Nortek’s closing price on July 5
July 7, 2016
Nortek Inc., a global diversified company whose offerings include heating and cooling products, ventilation products, and more, announced that it has signed an agreement and plan of merger with Melrose Industries PLC, a UK listed public company, to be acquired by Melrose for $86 per share in cash.
Nearly 90 percent of the chapters have undergone revision
July 7, 2016
ASHRAE has announced revisions to the majority of chapters, including major updates related to thermal storage and district heating and cooling, in its newly published 2016 ASHRAE Handbook – HVAC Systems and Equipment.
Judy Garber to retire on Aug. 1 after 16 years of service to the association
July 6, 2016
The membership of the National Association of Oil and Energy Service Professionals (OESP) has unanimously voted to hire Jaffe Communications of Newark, New Jersey, to serve as its next executive director, following the retirement of Judy Garber on Aug. 1.
Regulation in the EU and U.S., increasing construction in Asia Pacific and the Middle East are driving growth
July 5, 2016
The global insulation market is forecast to reach $93.34 billion by 2024, according to a new report by Grand View Research Inc. The rising importance of energy efficient buildings owing to escalating energy costs is expected to remain a key driving factor for the global insulation market.
Wind and solar PV had record additions for the second consecutive year
July 4, 2016
Renewable energy accounted for nearly 25 percent of global electrical capacity in 2015, according to a new study, Renewables 2016 Global Status Report, by REN21. The power sector experienced its largest annual increase in capacity ever, with significant growth in all regions.
According to a recent study from BSRIA, data center traffic is expected to grow at a 23 percent compound annual growth rate (CAGR), reaching 8.6 zettabytes by 2018. That means a lot of new data centers will be popping up around the country. Cooling these data centers is an energy-intensive endeavor.
System is in operation at Stockland Wendouree Shopping Centre in Ballarat, Victoria
July 4, 2016
The Commonwealth Scientific and Industrial Research Organization (CSIRO) has unveiled a solar-powered air conditioning system to cool Australian commercial buildings and achieve greater energy efficiency.
This induced-draft counterflow cooler features an evaporative fluid cooler flexible enough to meet a range of cooling needs. Process fluid is cooled by recirculating water that flows over the outside of heat transfer coils as air induced through the cooler evaporates a small portion of the recirculating water.