Fuses -- Anyone who has worked with electrical systems knows all about fuses and how they fail. They can burn out over time, may just be loose, or can blow out during an electrical storm or due to overload from another failed component. Of course, that's what they're supposed to do; they stop surges from going through and damaging the rest of the system. When a fuse fails, whatever system it was protecting will stop working.

Important Tip: Don’t just pay attention to the high-end of the price range! – which is what I know you are all looking at, but also look at the low range. If a contractor is cheaper than this, ask “why?” Usually it is because they don’t have liability insurance, workman’s compensation insurance, are unlicensed, all of the above, or worst yet, they don’t use HVAC technicians. You are spending a lot of money.  Make sure that they are licensed (In California, check here at CSLB License Checker) and insured.

Do you live in a historic home and want to tie your new system in to work with existing features? The price will go up to do the job right. All of these things add up to slow down the HVAC company, which takes more time, which costs more money for labor and parts. This is especially true if they are a legitimate company which is licensed, bonded and insured. Simply put, this is the “X-Factor” in your HVAC installation cost. Again, you could get people to do it for cheaper…but you won’t be happy with the results, I promise.
Indoor Fan Motor -- Indoor fans circulate the air from your house and through the system. Age and dust buildup are the two biggest contributing factors to their failure. When they are starting to fail they will often make noise. Failure of the fan will result in no heating or cooling, and if it is not repaired soon, it can cause other components to fail.

The use of furnaces, space heaters, and boilers as a method of indoor heating could result in incomplete combustion and the emission of carbon monoxide, nitrogen oxides, formaldehyde, volatile organic compounds, and other combustion byproducts. Incomplete combustion occurs when there is insufficient oxygen; the inputs are fuels containing various contaminants and the outputs are harmful byproducts, most dangerously carbon monoxide, which is a tasteless and odorless gas with serious adverse health effects.[14]
Air conditioning and refrigeration are provided through the removal of heat. Heat can be removed through radiation, convection, or conduction. Refrigeration conduction media such as water, air, ice, and chemicals are referred to as refrigerants. A refrigerant is employed either in a heat pump system in which a compressor is used to drive thermodynamic refrigeration cycle, or in a free cooling system which uses pumps to circulate a cool refrigerant (typically water or a glycol mix).

You've probably noticed many appliances boasting an Energy Star Certification. What this means is that manufacturer voluntarily built the product to help reduce greenhouse gases and meet non-regulatory guidelines offered by the Environmental Protection Agency. To earn an Energy Star rating, a product or system must be tested by a third party that has been recognized by the EPA for meeting their testing qualifications.
If your AC doesn’t turn off when room temperature reaches the temperature set on the thermostat, the problem is generally occurring either at the thermostat or in the electrical system that runs the outside condensing unit. You can use the AC’s circuit breaker to shut off the unit, but that should not be a permanent solution—circuit breakers are not designed to be used like light switches.
Although HVAC is executed in individual buildings or other enclosed spaces (like NORAD's underground headquarters), the equipment involved is in some cases an extension of a larger district heating (DH) or district cooling (DC) network, or a combined DHC network. In such cases, the operating and maintenance aspects are simplified and metering becomes necessary to bill for the energy that is consumed, and in some cases energy that is returned to the larger system. For example, at a given time one building may be utilizing chilled water for air conditioning and the warm water it returns may be used in another building for heating, or for the overall heating-portion of the DHC network (likely with energy added to boost the temperature).[4][5][6]
Asbestos removal tip.  Don’t trust any HVAC installation company that says that they will remove asbestos for you. They will do either one of two things: remove it and do a horrible job because they don’t know how (an illegal act in California, finable by up to $250,000), or they will say they did and never actually do it, which is dangerous to your health. Any HVAC contractor worth their weight will know not to touch it. Call an asbestos abatement company – it should cost around $500-$1,000, and your HVAC installation company will come in right after them and do the installation to decrease cost and inconvenience.

If your compressor doesn’t have an overload button and you hear it humming or buzzing, poke a screwdriver or stick down through the top grille and try to spin the fan blades clockwise. If doing this gives the fan enough of a boost to get it going, the unit has a faulty capacitor that must be replaced. See How to Test and Replace an AC Run Capacitor, above.