Inflation Reduction Act

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The HVAC industry faces challenges in 2024 from inflation, higher interest rates, and HFC production cuts. However, regulatory support for eco-friendly systems could provide growth opportunities, leading manufacturers to be optimistic about the year ahead.

Electrifying existing homes can be complex and costly, but HVAC contractors can help their customers by creating a custom plan that takes into account their budget and specific needs.

Nearly $9 billion in federal rebate money is eye-catching but months away. Experts say the Inflation Reduction Act’s enhanced tax credits, for consumers and contractors, are the best bets now.

Nobody quite knows what the final rebate programs will look like, as they will vary from state to state.

The ACHR NEWS chats with ACCA’s president and CEO, Barton James, and director of member communications and committee liaison, Melissa Broadus, about what’s on the association’s radar.

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.

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

The IRA provides incentives to homeowners looking to replace old equipment that burns fossil fuels with new high-efficiency systems that is powered by renewable energy, and HVAC contractors are needed to install it.