CARR - U.S. shipments of heat pumps rose in March from year earlier
2023-05-12 14:46:57 ET
U.S. shipments of heat pumps rose by 5.1% from a year earlier to more than 381,000 in March, the second straight month of gains, according to data from the Air-Conditioning, Heating & Refrigeration Institute (AHRI).
Shipments of central air conditioners dropped about 15% from a year earlier to about 496,000 units in March. AHRI’s data are an indicator of economic conditions and trends for manufacturers of air conditioning and heating equipment.
Shipments of heat pumps, which are all-in-one devices to heat and cool a home, had been forecast to expand amid supportive government policies. The Inflation Reduction Act of 2022 offers billions of dollars in rebates and federal tax credits to encourage the purchase of energy-efficient equipment.
Shipments of residential gas-storage water heaters fell 9.8% from a year earlier to about 415,000 units in March, while electric-storage water heater shipments 8.4% to about 445,000 units.
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U.S. shipments of heat pumps rose in March from year earlier