Saving money and energy - HVAC market growth trends

Saving Money and Energy - HVAC Market Growth Trends

With home and office energy bills going up and up, the market is shifting to accommodate consumers worried about high HVAC costs. These costs, combined with increasing temperature extremes have the global HVAC markets booming with innovations that homeowners and businesses will appreciate because they can save money, stop wasting energy, and be more comfortable at the same time.

Let’s take a look at some of these trends that emerging:

Non-Electric Ceiling Fans

A non-electric ceiling fan, such as this model from Jeden, is a smart, energy- and money-saving choice. The ceiling fan is an 8-blade extension that installs quickly and is hung under the multi-zone 4-way ceiling cassette of an AC unit or Variable Refrigerant Flow (VRF) system. It operates without electricity. It evenly diffuses air and heat from central air heating and cooling system and eliminates uneven distribution of air.

The Jeden non-electric ceiling fan maximizes comfort in living and working environments, increasing work productivity. It’s light and whisper quiet. The fan reduces the time it takes to reach the desired temperature in a room by up to 20 percent, reducing electricity bills from central air heating and cooling and resulting CO2 emissions by 20 percent as well.

Variable Refrigerant Flow (VRF) Systems

These large-scale ductless HVAC systems perform at a high capacity in large buildings like multi-family apartments or office buildings. VRF technology lets multiple indoor units or zones operate on the same climate-control system. VRF has been common in Asia but is now taking over the U.S. market because the systems offer flexibility, run extremely quietly, and can heat one area of a building while cooling another simultaneously. Home systems are available but tend to be costly. Reduced installation costs, along with flexibility, energy savings and comfort may persuade some consumers to switch to VRF systems, especially in higher-end homes.

Government Grants and Rebates

As governments look for ways to slow climate change and improve efficiency, they are offering users incentives, such as low-interest loans, subsidies, tax breaks and rebates for the purchase of energy-efficient and renewable energy systems. Government grants and rebates for homeowners to purchase new furnaces are expected to increase demand for home heating equipment.

Programs vary greatly by country and state and are driving consumers to replace or upgrade their power and HVAC systems. For instance, Connecticut offers low-interest loans of up to $25,000 for 10 years, some with zero percent interest, for eligible families who purchase a solar system. Other places incentivize smart metering to help energy suppliers stabilize energy grids by matching their generation with demand for electricity. Knowing about these programs in your area may help you persuade consumers to upgrade their systems, increasing your business.

Your Turn

What are you seeing in market trends? What are consumers asking for? Share your insight below.

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