Homepros

📸 A lot happened in 2024. A few HVAC-industry highlights, by quarter, to wrap the year: 1. January - March Johnson Controls announced its plan to sell its residential and light commercial HVAC businesses, including York, which Bosch agreed to pick up for a cool $8 billion in July. 2. April - June Bryant launched a partnership with Walmart, enabling customers to explore equipment on Walmart’s website and connect with local dealers. 3. July - September It became public that Sila Services went up for sale — and Goldman Sachs later agreed to acquire a majority stake, valuing the company at roughly $1.7 billion.  4. October - December ServiceTitan went public, popping 42 percent and closing its first trading day as a $9 billion company. Full roundup: https://lnkd.in/dCwv6YgP

Carrier HVAC launched a program to recognize dealers who sell its ductless products. “Carrier’s extensive network of installers will have the opportunity to join the newly launched Certified Ductless Pro Program starting January 2025," the announcement said. "Contractors who meet the program’s brand loyalty and training criteria will gain access to a range of exclusive benefits, helping them stand out and attract more leads,” it added. Benefits include special financing rates and custom landing pages.

Trane Technologies today announced it's acquiring building technology company BrainBox AI. Deal terms weren't disclosed. "BrainBox AI uses advanced... algorithms to predict building energy needs, automate HVAC systems, [and] reduce energy consumption," the announcement said. "BrainBox AI’s proven technology is deployed across more than 14,000 commercial buildings globally, including airports, complexes, office buildings, hotels, commercial retail and more," it added.

AHRI, the trade group representing manufacturers, last week encouraged the industry to sign a letter supporting the 25C tax credit as the government considers eliminating it. Why it matters: The 25C tax credit allows homeowners nationwide to claim up to a $3,200 credit every year until 2032 for qualified home improvements, including HVAC and water heater upgrades. What’s happening: The credit, supported across the industry, is now “at risk,” says AHRI’s Samantha Slater. “The incoming Congress plans to pass a $5 trillion tax bill, and the tax writers are looking for ways to partially pay for its cost,” she writes.  Full story: https://lnkd.in/dv_wPXNy

Mitsubishi Electric last week announced it's retrofitting a U.S.-based factory to make variable speed compressors. "Production of the compressors, targeted to start in October 2027, is expected to help the company meet growing demand in the United States for energy-efficient HVAC solutions. Initial estimated annual capacity will total 1,000,000 compressors," the announcement said. "When complete, the revamped factory will represent the first time that variable-speed compressors using twin rotary technology for highly efficient ductless heat pumps will be manufactured in the United States. More than 90% of these compressors for in-demand ductless heat pump systems are currently built in China and other countries in Asia."

Shipments of central air conditioners and heat pumps grew 53 percent, year-over-year, in October, according to The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) data released on Friday. Why it matters: This marks the biggest year-over-year monthly gain since April 2021. Full story: https://lnkd.in/dpzPkaqF

Bryant recently held its ninth annual Women in HVAC conference, bringing over 250 dealers, distributors, and staff to Palm Springs, CA. "Established in 2015, Bryant Women in HVAC engages and supports women in the HVAC industry by sharing trending industry topics and addressing their unique challenges," the company said. "The 2024 conference theme was Discover Your Possible, representing Bryant's efforts to highlight the stories of attendees that helped shape their path and how to use those stories to lead with authenticity."

Yelp last week rolled out over 20 product updates as part of a larger initiative to improve its advertising offerings, particularly for home service businesses. Why it matters: The company embarked on a $40 million spending blitz this year to capture more advertising dollars from home service companies, which now represent over 60 percent of its revenue. What’s happening: Among the updates is an integration with Apple, allowing customers who search for and view a contractor on Apple Maps to click a new “Quote” button and immediately request a quote through Yelp. Full story: https://lnkd.in/eggnJHZP

After more than a decade as a private company, ServiceTitan yesterday made its public debut, ending the day as a $9 billion company. Why it matters: “It’s an important day for our company, but more importantly, it’s a historic day for the industries that we serve,” said Ara Mahdessian, CEO, in a TV interview. Full story: https://lnkd.in/d8jy2uJA

AHRI is expected to release October HVAC shipments tomorrow. A look back at September: Just over 900,000 combined central air conditioners and heat pumps were shipped, up 18% from last year. Heat pump shipments, in particular, jumped 27% year-over-year to 383,000. As of September, year-to-date combined shipments have topped 7.6 million, about 6% higher than last year. Full story: https://lnkd.in/dE6Si8uj