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2014) Recent advances in dynamic modeling of HVAC equipment. Part 2: Modelica-based modeling, HVAC&R Research, 20:1, 150-161,This article is the second in the two-part series examining recent advances in the dynamic modeling of HVAC systems, which can be challenging due to the multi-physical and multi-scale processes of such systems. Part I reviewed the progress in dynamic modeling of major types of HVAC equipment. Part II presents a detailed review of dynamic modeling of HVAC equipment using Modelica, an object oriented modeling platform that has demonstrated potential in addressing HVAC equipment challenges. The Modelica-based modeling platform offers some desirable features, such as object-oriented and acausal modeling, that could significantly facilitate modeling efforts and reduce the time of model development. Currently, there are many numerically robust and efficient integrated simulation environments that support the Modelica-based modeling platform, such as Dymola, SimulationX, and MapleSim. This article reviews historical and recent modeling and simulation tools, and later examines previous work on the Modelica-based dynamic modeling of HVAC equipment. It also presents current issues and possible future directions of dynamic modeling for HVAC equipment.