Articles Tagged with ''tax credits''

The last two years have been very good for the HVAC industry, thanks to robust demand for new equipment; however, manufacturers worry that inflation, rising interest rates, and a possible recession could dampen growth in 2023.

As the U.S. moves toward electrification, heat pumps are becoming more popular, which will likely increase sales in the coming years. The key is to know which type of heat pump will work best for an application, as there is a wide range of equipment from which to choose.

With the AHR Expo in Atlanta just a week away, The Climate Control Group COO Kevin McNamara met with The ACHR NEWS and other members of the trade press to give an outlook on the 2023 HVAC industry.

One of the tallest buildings in Charleston was originally a division of Huntington National Bank. AB Contracting Inc. acquired the 17-story building in April of 2021 and immediately began creating a modern, mixed use-space in the circa-1960 high-rise.

Joe Manchin is the political bridge between the fossil-fuel technology that still powers most heating and cooling systems in the U.S. and new energy technology that has not fully emerged.

The HVAC industry is pretty excited about all the tax credits and rebates that are being offered currently, so now is the time for contractors to lobby their state’s energy office to make sure that their state is applying for IRA money.

Homeowners looking to add solar, EV chargers, high-efficiency heat pumps, and more will soon have access to numerous tax incentives and rebates. HVAC contractors may want to consider offering more of these products and services.

While the IRA includes tax incentives and rebate programs that should benefit the HVACR industry, some officials are wary of provisions they say could result in auditing hassles — and perhaps increased expenses — for their membership.

Given all the current uncertainties in the marketplace, many contractors believe the time to buy a new system may be now, despite industry regulations.