The recent Inflation Reduction Act enacted laws around global warming and established higher minimum standards for heating and cooling efficiency that goes into effect on January 1, 2023, reports Service Plus co-owner, Chris Cunningham. According to Cunningham, “Increased efficiency requirements increase the cost of new equipment; and if your furnace and air conditioning system is over 10 years old or you’ve considered taking advantage of the superior efficiency, reliability, and comfort of a new system, you may want to act quickly.” Add in the expected consumer demand and it’s no surprise the price of heating and cooling equipment is expected to jump over the next year, he adds.