In 2022 we saw a significant hike in manufacturing costs that heavily impacted the HVAC industry. These costs increases were related to factors such as raw material costs, increased labor rates, fuel and transportation costs, and changes in process from the impact of the challenging year of 2020. Many HVAC manufacturers have publicly announced their rate increases nearly every quarter in 2021 and 2022- ranging from 3 percent up to 20 percent. As we close out the year and roll into 2023, we are seeing yet another wave of announcements of price increases going into effect in the new year.
New regulatory changes are part of the contribution to these rate increases. Beginning in 2023, all new residential central air-conditioning and air-source heat pump systems sold in the United States will be required to meet new minimum energy efficiency standards per the The U.S. Department of Energy (DOE).
Here are just a few of the publicly announced rate increases from the HVAC manufacturers:
“…For these reasons, we will be increasing prices up to 8% on residential & commercial products, accessories and parts. The increase is effective January 1st, 2023 for all U.S. customers…”
“…Carrier, which manufactures HVAC products under the Carrier brand name, announced a price increase of up to 8% on North American commercial applied products, effective Dec. 5, 2022. Carrier is a part of Carrier Global Corporation, a global provider of healthy, safe, sustainable, and intelligent building and cold chain solutions.”
“…Trane Technologies’ Residential HVAC business announced a price increase of up to 10% on select residential heating, ventilating, and air-conditioning (HVAC) equipment. The increase applies to Trane, American Standard Heating & Air Conditioning, RunTru by Trane, and Ameristar by American Standard equipment, and related parts and supply brands. The price increase for residential equipment and select parts and supplies will take effect on products that ship on or after January 9, 2023…”
Total Air Solutions has been serving the Central Florida Coast for over 20 years; we understand the weight these changes are having on our customers. We are getting to the front of these concerns by reserving new units for our customers before the rate increases go into effect. If your unit is aged 8+ years or malfunctioning, request a consultation with one of our Comfort Specialists today to get more information about reserving a new system: 941-426-1770
Total Air Solutions, December 20, 2022
Author: Lauren Marshall, Marketing Manager