How HVAC Contractors Can Take Advantage of Geothermal Heating and Cooling
HVAC contractors looking for new business-building opportunities should look at providing installation of geothermal heating and cooling systems. That’s because, like the HVAC contracting industry itself, the geothermal category continues to expand steadily each year.
According to Precision Business Insights, the size of the U.S. geothermal heating and cooling market was valued at US $9.5 billion in 2023 and is poised to grow at an annual rate of 7.5% from 2024-2030. And for good reasons.
For example, geothermal systems can reduce energy consumption and emissions up to 44% compared to air-source heat pumps and 72% compared to standard air-conditioning equipment, according to the U.S. Department of Energy. Lower energy consumption in turn leads to lower energy costs for owners of residential and commercial buildings.
These and other advantages of geothermal technology should lead to steadily rising demand for the systems in the years ahead. The end customer is changing their mind about energy efficiency and geothermal heating and cooling.
Contractors may have the opportunity to achieve higher hourly rates for work given the specialized skills required to install geothermal and the relatively small number of companies that provide geothermal services. In addition, geothermal systems require some level of maintenance and service, leading to the potential for recurring revenue.
And, because geothermal heat pumps are one of the most energy efficient, environmentally clean systems for heating and cooling, according to the U.S. Environmental Protection Agency, the technology can help both customers and HVAC contractors meet their sustainability objectives.
To meet this growing demand and to take advantage of the opportunity to install geothermal heating and cooling systems, more HVAC contractors require a deeper understanding of the technology and should utilize workforce development and training initiatives that are currently available.
Training and accreditation are vital in any industry, but especially in the ground source heat pump industry. Stay ahead of your competition and get training now.
The International Ground Source Heat Pump Association (IGSHPA) provides HVAC contractors with workforce development programs to increase the number of trained trade professionals in the design and installation of ground source heat pump technology. Ground source heat pump technology offers significant growth opportunities for contractors and offers lucrative careers in a growing industry and is another compelling aspect of this technology’s expansion. IGSHPA training is the best way to learn accepted ground source heat pump standards and procedures and the best way to get ahead in the industry.
In today’s highly competitive HVAC market, installing geothermal heating and cooling systems can help contractors differentiate and grow.
Mission Geo is a multifaceted outreach and education program aimed at building awareness and understanding of ground source heat pumps: so that drillers, builders HVAC Professionals and general contractors can realize economic and environmental advantages of geothermal heating and cooling.
