Contractors Predict Growth in Service/Repair this Year
Slight dip in equipment sales could be offset by greater demand for service
HVAC contractors have been busier than ever these last two years, thanks to consumers who felt the time was right to invest in new systems and IAQ equipment. They are hoping that momentum will continue this year, thanks to the Inflation Reduction Act (IRA), which will offer hundreds of millions of dollars in incentives to consumers purchasing high-efficiency HVAC equipment.
But this silver lining also comes with a cloud, as the economy appears to be cooling, inflation and interest rates remain high, and it’s harder than ever to find skilled labor in order to keep up with demand. Still, contractors are mostly optimistic about how 2023 is shaping up.