In case you haven't noticed, heat pumps are hot. Although these devices, which use electricity to generate both air conditioning and heat, have b

Carrier, the century-old inventor of the air conditioner, is moving on to the home heat pump

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2024-04-23 03:30:07

In case you haven't noticed, heat pumps are hot. Although these devices, which use electricity to generate both air conditioning and heat, have been around for decades, the latest models are much more efficient and cost-effective alternatives to conventional fossil-fuel furnaces and air conditioners.

But there are other reasons why heat pumps are fast becoming popular with homeowners. The federal government, as well as an increasing number of states, are offering consumers attractive tax credits and rebates for buying and installing heat pump systems as a way to reduce climate-warming greenhouse gas emissions and propel the transition to renewable energy.

All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Over the past year, the Palm Beach Gardens, Florida-based company has been repositioning itself to capitalize on the fast-growing market for heat pumps and other sustainable heating, ventilating and air conditioning (HVAC) technologies.

"We all know that sustainability is a megatrend," Carrier Global Chairman and CEO David Gitlin told a group of investors in February. "HVAC has to have a critical seat at the table."