U.S. shipments of air-source heat pumps rose 18% from a year earlier to more than 400,000 in August amid a slowdown for other kinds of air-conditioning and heating equipment. Shipments of air conditioners slumped 5% to about 559,000 units during the same period, according to data from the Air-Conditioning, Heating & Refrigeration Institute (AHRI).
The gain in heat-pump shipments drove a combined gain of 3% to more than 960,000 units, the trade association reported Friday. 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, have been forecast to grow as government incentives take effect. The Inflation Reduction Act of 2022, which President Biden signed into law in mid-August, 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 20% from a year ago to about 309,000 units in August, while electric-storage water heater shipments dropped 20% to about 339,000 units, according to the data.
August's 18% yearly gain in heat-pump shipments was greater than July's 7.6% advance .
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U.S. shipments of heat pumps jump 18% in August amid broader slump