Market news, 02 May 2024
The Air-Conditioning, Heating, and Refrigeration Institute (AHRI) expressed its gratitude to House and Senate negotiators who included language in the just-passed Omnibus bill to bring about a national phasedown of HFC refrigerants. Particular appreciation also is due to Sens. John Kennedy (R-La.), Tom Carper (D-Del.), and John Barrasso (R-Wyo.) as well as Reps. Frank Pallone (D-NJ), Pete Olson (R-Tex.), and Paul Tonko (D- N.Y.) for their tireless efforts to see this bipartisan initiative through to completion.
The language included in the bill would bring about a national phase down of a class of refrigerants known as hydrofluorocarbons (HFCs) and allow for a market- and consumer friendly transition to new and better performing refrigerants and related products and equipment.
“We are gratified that negotiators included this bipartisan, jobs-promoting language in the Omnibus bill and we are grateful to the Senate and House champions who worked so hard to see it accomplished, and to the House and Senate for passing the bill,” said AHRI President & CEO Stephen Yurek. “Our industry has been working toward this goal for more than 10 years and it is very exciting to see our vision of an HFC phasedown reach the home stretch. We are hopeful that President Trump will quickly sign the bill so we can pivot toward implementation.”
According to a 2018 study by Interindustry Forecasting at the University of Maryland (INFORUM), an HFC phasedown will create 33,000 new manufacturing jobs, increase direct manufacturing output by $12.5 billion, and increase the U.S. share of the global HVACR export market by 25 percent.
