As the HVAC industry makes progress with many changes that have taken place in 2024 and that are expected to continue through 2025, we offer another in our “What’s New? What’s Next?” series on HVAC manufacturer viewpoints. This month, we offer this commentary by Michelle Robb, Senior Director of Growth Excellence at Mitsubishi Electric Trane HVAC US (METUS). – ed.
Contracting Business: Michelle, over the last two years, how well has the IRA spurred heat pump awareness and adoption among consumers and contractors? What changes have you seen occur in the industry since the legislation was passed and incentives started to roll out?
Michelle Robb: The Inflation Reduction Act (IRA) has greatly increased heat pump awareness and adoption among homeowners and HVAC contractors. The push toward electrification is picking up speed, and governments are working to make the switch easier. Choosing an all-electric, all-climate heat pump system may come with federal incentives tax credits, and local utility rebates, depending on where someone lives.
The IRA’s $369 billion in clean energy provisions creates what Rewiring America calls an electric bank account for every household in the nation. The organization has a tool for homeowners to enter their household information to easily see if they are eligible for any of the programs. Similarly, Eli Technologies, a company based in San Francisco, lets consumers and contractors know which incentives they can apply for to electrify spaces.
Overall, heat pump sales across the United States are rising. In 2022 and 2023, the Air-Conditioning, Heating, & Refrigeration Institute (AHRI) reported that heat pumps outsold gas furnaces. In the first quarter of 2024, heat pump sales were already 30% higher than gas furnaces. In June 2024, 432,916 heat pumps shipped, compared to 379,895 units that shipped in June 2023 – an increase of more than 53,000 systems.
Mitsubishi Electric Trane HVAC US (METUS) is experiencing record sales, especially in the Northeast. We lead more than 50% of the heat pump market share in Maine, one of the coldest states in the country.
METUS recently surveyed U.S. homeowners to gauge their knowledge on the IRA and heat pumps, and we found that nearly two-thirds had heard of the IRA. The survey also found 54% of respondents would consider installing a heat pump to take advantage of a government incentive.
Today, two years after the IRA was signed, we know that more Americans are taking advantage of IRA-related savings.
CB: How have states been doing with their own rollout of rebate programs? What states are well-equipped for a successful rollout?
MR: It varies state to state. The map below, which changes daily, shows New York, Wisconsin, Arizona, and New Mexico have rolled out IRA Home Energy Rebates, but the rollout does not always include heat pump rebates. Other states are coming on board.
Whether you require installation, repair, or maintenance, our technicians will assist you with top-quality service at any time of the day or night. Take comfort in knowing your indoor air quality is the best it can be with MOE heating & cooling services Ontario's solution for heating, air conditioning, and ventilation that’s cooler than the rest.
Contact us to schedule a visit. Our qualified team of technicians, are always ready to help you and guide you for heating and cooling issues. Weather you want to replace an old furnace or install a brand new air conditioner, we are here to help you. Our main office is at Kitchener but we can service most of Ontario's cities
Source link
