METUS CEO Mark Kuntz Explains Benefits of Energy-Efficient Heat Pumps During Bicameral Electrification Caucus
Mark Kuntz, Mitsubishi Electric Trane HVAC US (METUS) CEO, recently spoke with the Bicameral Electrification Caucus, to share how METUS is facilitating electrification and the energy transition as well as how the Inflation Reduction Act (IRA) supports these efforts.
Kuntz was one of four private-sector CEOs and business leaders invited to the Washington, D.C., meeting to discuss how their respective companies are advancing widespread electrification – an initiative the caucus was formed to address. Specifically, he talked about all-climate heat pump systems’ (and the IRA’s) role in the electrification movement, how METUS is powering growth in the electrification workforce as well as the company’s commitment to spreading awareness of the benefits of all-climate heat pumps.
Decarbonization and efficiency advantages drive heat pump demand
METUS anticipates high demand for its high-efficiency all-climate heat pumps, especially since many models qualify for both ENERGY STAR and Consortium for Energy Efficiency standards, relevant for the Home Energy rebates and the 25C tax credit.
Kuntz explained that all-climate heat pumps provide home comfort and efficiency benefits. They are an effective solution for reducing carbon emissions in buildings, offering a compelling alternative to gas and oil heating.
According to Rewiring America, if all single-family homes adopted heat pumps, annual emissions could be reduced by at least 160 million metric tons of CO2 by 2032, equivalent to removing approximately 36 million gas-powered cars from the road for a year.
Today, 16% of U.S. homes use electric heat pumps – a critical clean technology that runs on electricity and can be 100% powered by renewable energy. The Air Conditioning, Heating, and Refrigeration Institute (AHRI) reported that in 2023, for the second consecutive year, heat pumps outsold gas furnaces by 21%.
IRA incentives boosts heat pump adoption and job growth
The IRA addresses common barriers that have prohibited widespread heat pump adoption. However, these three initiatives within the IRA will have the largest impact:
- Home Energy rebates, an $8.8-billion program enabling single and multifamily homes to receive rebates for energy-efficiency and electrification projects, including installation of all-climate heat pumps.
- 25C tax credit, a 10-year program providing a tax credit of 30%, up to $2,000, for qualifying home heat pump installation.
- Greenhouse Gas Reduction Fund, a $27-billion investment aimed to mobilize financial and private capital in the fight against climate change and ensure America’s economic competitiveness.
Increased heat pump demand stemming from the IRA equates to more jobs for local installers, contractors and energy auditors – most of whom are small businesspeople. Kuntz explained that METUS invests millions yearly to train contractors to understand and correctly install its systems. Since the IRA legislation was passed, METUS is redoubling its efforts to train a new generation of contractors to install and service its heat pump systems.
METUS gets the word out about heat pump benefits
Since METUS is one of the nation’s leading heat pump suppliers, Kuntz explained that the company is doing more than educating and training contractors about heat pump systems. METUS is also sharing the benefits of climate-friendly heat pump solutions with commercial and residential building owners as well as homeowners.
