The Cost of Air Conditioners Rising This Summer (2023)

As the summer weather continues to heat up, we wanted to take a moment to address the rising cost of air conditioners (and HVAC systems in general). Broadley’s has been installing HVAC systems for a long time, and we expect a gradual rise in equipment cost each year, but this summer more than ever we are seeing equipment prices climb faster than expected. 

Obviously, as years go by everything becomes more expensive, but this sharp increase in price isn’t the normal gradual hike. Since the start of summer last year, we have seen four price increases from our manufacturers and distributors. It’s no secret that the pandemic affected the supply chain years ago, and not every single resource has bounced back. 

As a result, we still see a strain to manufacture HVAC systems, thus increasing prices on the equipment as well as the materials we use to install them properly. The equipment that we purchase has gone up roughly 20 percent to 30 percent from last summer, which results in higher installation project prices. 

We want to be up front with our customers about what we are seeing, and help you find the best solution if you are in need of a replacement HVAC or AC system this summer. 

Contact Us About Your Air Conditioning

How to Offset the Price of a New AC System

Even as prices increase, it’s not going to stop people from buying new air conditioners. It’s an essential part of your home, and your comfort in the peak summer heat. Here are some things to consider and recommendations we have to help you offset the price of a new AC: 

• Install a High Efficiency AC or Heat Pump
• Consider Tax Credits and Rebates
• Use Zero Percent Financing Programs

Install a High Efficiency AC or Heat Pump

If you are replacing your air conditioning system, consider how much energy your current system is using. If you are looking for a replacement, the odds are your current AC is old and inefficient. It may not be doing a great job of cooling, so you turn it up. This is wasting energy, and driving up your electricity bill. 

We talked to one of the experts here at Broadley’s, Jim W., our Sales Manager. He recommended a higher efficiency system to save money over the long run, “I would suggest a higher efficiency system to minimize the utility costs over the life of the system.”

When you install a high efficiency air conditioner, you are investing in a system that will use less energy, and begin to lower your electricity bill every month. This can result in hundreds of dollars in savings over the course of a summer, depending on the size of your space. You may think that holding off on a new AC is saving you money, when it’s really costing you more as you run your current AC system harder and longer. 

You may also consider installing a heat pump instead of a traditional air conditioning system. Heat pumps have the ability to work as both an air conditioner and a heating system. These systems are highly efficient, and some qualify for fantastic rebates and tax credits.

Consider Tax Credits and Rebates

New high efficiency air conditioning and heating systems may qualify for certain tax credits and rebates, depending on the system you decide to install. In an effort to encourage homeowners and businesses to reduce the amount of energy they consume, there are state and federal programs that offer these incentives. 

Through the Inflation Reduction Act, there are tax credits available up to $2000 on a heat pump, and up to $600 on an air conditioning system. Other utility companies are also offering rebates. Atlantic City Electric has rebates up to $500 on traditional air conditioning or ductless air conditioning systems. They also have rebates up to $1000 for heat pumps. 

Contact Broadley’s To Save Money On A New AC System

Use Financing Programs

One of the best ways to avoid a huge bill for your new AC is to use financing. Right now there are programs that offer 0% financing for up to $15,000 for seven years for Atlantic City Electric & South Jersey Gas Customers when you install energy efficient HVAC equipment. We have installed full HVAC systems with payments as low as $115 per month, and even less for just an AC replacement. 

If you are interested in a new AC system, Broadley’s can help you explore your options to fit your budget. We will recommend the right system for your home, and help you get the best rebates, tax credits, and financing available. 

Installing a New Air Conditioner in Ocean City, NJ

If you are looking to install a new HVAC system in Ocean City, NJ, or any of the surrounding towns in South Jersey, Broadley’s can help you. 

Not every home is the same in South Jersey, and not every HVAC solution is right for you. Let us help you choose the right HVAC system, to keep you comfortable all summer long and in every season. 
Give Broadley’s a call at 609-212-4814, or click here to visit us online!