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Oil dependence is an issue that can bring together people from all over the political spectrum, as it touches on national security, economics and the environment. So it’s not terribly surprising – although it is encouraging -- that the nation’s first oil-savings bill was passed in a state led by a Tea Party governor and a Republican-dominated legislature. This summer, Maine passed a law requiring the state to reduce its overall oil consumption 30 percent by 2030 and 50 percent by 2050, based on 2009 levels. (more) Read More
KETTERING, Ohio and INDIANAPOLISGE - News), and Bryant Heating & Cooling Systems have announced a multi-year renewal on their consumer lending program, which originated in 1998.The Bryant® Comfort Credit Card is available to qualified customers through more than 1,400 authorized Bryant dealers nationwide.“Heating and cooling equipment costs can be unexpected expenses, so it’s important for our customers to have the option of paying for service or installation with manageable payments over time,” said Tom Archer, brand manager for Bryant Heating & Cooling Systems. (more) Read More
TYLER - The manufacturer of a space heater is being sued for negligence following a fire that destroyed a Canton woman's home. Succeeding the rights of its subrogor Temple Bolt, Texas Farm Bureau Management Corp. filed the lawsuit against Suarez Corp. In dustries, also known as Sci Direct, on Aug. 10 in the Eastern District of Texas, Tyler Division. According to the lawsuit, Bolt's house, which was located in Canton, sustained significant damage on Dec. 27, 2010, due to a fire allegedly caused by an EdenPURE infrared space heater, model 1000XL. The house was considered a total loss. (more) Read More
Carrier Corp. said Wednesday it had acquired a controlling interest in a Chinese company that develops and manufactures heating and cooling systems that pump heat to and from the ground. (more) Read More
A new lending programs hold promise to open the doors for financing improvements to the energy efficiency of existing multifamily properties. Commercial lenders see potential to originate loans for that purpose under a program launched by Fannie Mae and HUD’s Federal Housing Administration (FHA) called Green Refinance Plus. (more) Read More
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he U.S. Department of Energy (DOE) and the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) announced a new agreement to develop achievable and cost effective standards, jointly promote educational programs, and support one another’s products and services. The memorandum of understanding (MOU) underscores the commitment between DOE and ASHRAE to improve building energy standards that reduce energy costs and carbon pollution nationwide. These concerted efforts help home and business owners save money on their annual utility bills, enhance our nation’s energy security by reducing fossil fuel use, and strengthen America’s position as a leader in energy-efficient building construction. (more) Read More
DRACUT -- The day Lucky Oil owner Leo Vezina told longtime customer Omer Matte he had to upgrade his oil heating system to comply with a new state law, the two men nearly came to blows. "They had quite an argument," confirmed Matte's wife, Camille. The Mattes have lived in their Leo Avenue home for 54 years; the heating system is original to the house. "The oil line was already under a concrete floor and he wanted to dig it up," Omer Matte said. "But, he explained it to me and I wasn't happy about it, but it's the law." The Massachusetts Homeowner Oil Heating System Upgrade and Insurance Law goes into effect Sept. 30. It requires heating-oil systems in one- to four-family homes, primarily those installed before 1990, to be upgraded through either the addition of a oil safety valve or encasing the oil line in a protective sleeve. ... Read More
Ingersoll-Rand Co. Ltd. (IR) fumbled the long-awaited rollout of a new line of heating and air-conditioning equipment aimed at cost-conscious homeowners, company Chief Executive Michael Lamach said Thursday. Weakness in Ingersoll's residential solutions business contributed to the company's second-quarter results coming in below analyst expectations. The residential business, which includes Trane heating and air-conditioning equipment, has struggled to increase sales and profit in the midst of anemic consumer spending and a dismal U.S. housing market. But the company revamped Trane products at the low end of the energy efficiency scale on the belief that consumers would likely migrate to lower-cost models once federal tax credits expired for more expensive, high-efficiency equipment. (more) Read More
Water heater maker A.O. Smith Corp. said on Tuesday that it will acquire boiler maker Lochinvar Corp. for $418 million.The
deal does not include the privately held company's existing debt, A.O.
Smith said. The deal should add to A.O. Smith's profits by 10 cents per
share starting in the fourth quarter, except for one-time accounting
charges related to the purchase, and 40 cents to 50 cents per share in
2012. (more) Read More