HVAC Residential Market

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What will be the next step for HVAC contractors as technology continues to drive change? Will an “Uber-like” HVAC contractor service model emerge? Don’t be left behind… and proactively plan for the future.

Available on 2- to 6-ton horizontal and vertical Versatec Base, Versatec Ultra Envision2 Compact, and 7- to 25-ton horizontal and vertical Envision XL products, this new option allows the use of a building’s interior loop water to provide “free” cooling. 

The home, located in the organization’s Faith Landing development in southwest Oklahoma City, represents an ongoing collaborative commitment between ClimateMaster and Habitat for Humanity to construct all homes in the region with geothermal heating and cooling systems. 

The global geothermal heat pump market is forecast to grow at a compound annual growth rate (CAGR) of 15.26 percent over the period of 2015 to 2019, according to a report from Research and Markets.

The CCI is calculated based on a survey of the association’s contractor members, who are asked how positive they feel about new business prospects, existing business activity, and expected staffing decisions in the short-term future. 

The state’s Renewable Energy Standard (RES) requires that at least 20 percent of electricity sales in Minnesota originate from renewable sources by 2020 and 25 percent by 2025.

Kenneth D. Goodrich, managing partner of US Peach LLC, an HVAC and plumbing service provider, recently announced the acquisition of The Honest Plumber, Heating & Air, a Las Vegas-based air conditioning, heating, and plumbing company, and Corona, California-based Walton’s Air Conditioning.

Despite the numbers, manufacturers remain optimistic about the future and are focused on growing the market by introducing new products and educating the public on the many benefits of GHPs.

The market was estimated to be valued at $2,860.4 million in 2014 and is forecast reach $15,620.9 million by 2019, with a compound annual growth rate (CAGR) of 40.4 percent between 2014 and 2019.

Barring an act of Congress, the 30 percent federal tax credit for residential geothermal heat pump (GHP) systems will expire at the end of 2016. The industry is worried about what that means for the future.