If you’re in need of a new A/C, now’s the time to get one!
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2022 will see HVAC manufacturers hike their prices for the cost of parts, equipment, and supplies. This is due mostly to supply shortages that have been exacerbated by the Covid-19 pandemic. These shortages have also led to price hikes and delayed deliveries.
Other reasons for the inflated prices include:
- Fuel and transportation costs
- Increased cost of labor
- Increased cost of raw materials
- Higher demand for HVAC systems
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With many people now working from home, there has been an increase in demand for clean, effective indoor air quality. Such high demand has placed further strain on an already-struggling market. Moreover, shortages of major raw materials such as copper, steel, and aluminum are expected to continue into 2023.
Major manufacturers have announced price hikes, ranging between 5-9%. An estimated 10-30% increase is also predicted for specialized HVAC equipment. On a different note, with the rising cost of Diesel fuel, this means you’ll likely see some HVAC companies downsize their service areas. Why? This fuel is essential for HVAC trucks and larger vehicles to transport units and supplies.
A couple of other notable mentions are:
- Increased refrigerant prices
- Chip shortage
The gas used to transfer heat out of your home or business is called refrigerant. This gas has always been costly. Because Freon®, R-22, was phased out for more eco-friendly alternatives, newer refrigerants (such as Puron®, R-410a) have spiked demand. Thus, higher prices.
In your HVAC system, like heat pumps and variable speed units, for example, there are semiconductor chips. Without these chips, consumers can expect a decreased supply of high-quality, optimally-efficient units and parts. This will make them harder to come by and more expensive.
How Can You Prepare for Service in the Midst of Inflation?
If you think you will need one, plan for a replacement unit now. This way you can prepare a budget for the kind of system you will need, and decide what features are ideal for your specific needs. You don’t want to skimp on price here because you’ll likely be stuck with your unit for quite a while. So make sure you do your due diligence and shop around comparing pros and cons – as well as price – before making a decision.