Interest in ecofriendly commercial buildings is on the rise, especially with increasing reports of global warming and companies’ impact of using vast amounts of the planet’s resources.
Many homeowners are replacing their gas furnaces with heat pumps, so contractors should educate them about the energy efficiency, payback, and comfort that they can anticipate with their new equipment.
Though the collapse of SVB primarily impacted businesses and investors within the tech center, HVACR contractors — especially small business owners — should take steps now to make sure their cash in the bank is safe.
HVAC contractors have been busier than ever these last two years, and they are hoping that momentum will continue. But inflation and interest rates remain high, and it’s harder than ever to find skilled labor in order to keep up with demand, so 2023 may be more of a challenge.
Chris Forth, vice president of codes, standards and environmental affairs at Johnson Controls Inc., told a group of AHR attendees the industry can increase equipment installations with the help of the tax incentives and consumer rebates in the Inflation Reduction Act (IRA).
As contractors embark on 2023, it is important to keep an eye on the economy without seeing a recession that is not there yet … and might not be here for a while.
Following two boom years, economic signs point toward a slowdown in HVACR industry growth in 2023, but distributors who take the changes in stride should be OK.