Manufacturers warn of price hikes
If you’re wondering whether to buy a new HVAC system, this item will help you see the pros and cons of waiting until next year.
That’s when manufacturers will raise prices of heating and cooling costs.
One big factor: New minimum efficiency standards will go into effect on Jan. 1, 2023.
The Department of Energy is requiring manufacturers to make air conditioning and heat pump systems to be one SEER higher for air conditioning and heat pump systems. (SEER is an acronym for Seasonal Energy Efficiency Ratio, which measures a unit’s effectiveness.)
This is both good news and bad news: The higher SEER level will give you more comfort and hold down energy costs, but the unit itself will cost more.
Other cost factors
New units will include more copper, steel and aluminum, and they will be larger, raising transportation charges.
In addition, HVAC manufacturers also have had to deal with rising costs that have struck most industries: inflation, transportation, supply chain and worker shortages, all stemming at least in part from Covid-19.
Repair or replace
You have options if your HVAC system is aging – about 10-12 years old. Its life expectancy will depend on usage and maintenance.
•You can buy a new system now. The upfront cost will be lower than next year’s model, but you won’t get next year’s long-term efficiency. This may not be a factor if you plan to sell your home in a year or two.
•You can wait until a replacement becomes more urgent. If so, keep an eye on repair costs. If your system is requiring more repairs and the fixes are becoming more costly, you may decide that a new system is your best choice.
The team at Premier HVAC will be glad to give you all the information you need to make the best decision for your budget and your home or business. (718) 790-4446.