With rising equipment prices, a presidential election, the impact of private equity, the supply chain, inflation in general, and more, 2024 brings many challenges.
The HVACR industry will undergo numerous changes in 2024, including a large cut in HFC production, the introduction of new refrigerants, and the penultimate year to legally install R-410A split systems.
El Nino, a combination of weak surface winds across the tropical Pacific and warmer-than-normal water temperatures in the central and eastern tropical Pacific, will affect U.S. weather patterns this winter.
While the industry will wrestle through new refrigerants and the higher prices that result, the hotter weather of the next few years will stimulate demand despite equipment affordability issues.
HVACR contractors need to prepare for the summer temperatures around the country favored to be above normal, with potential dry heat, tropical storms, and wildfires.