Heat Pumps

“I think there's even a company doing like a battery in a heat pump or something out there. I've seen that, yeah. And it's actually, it's carrier.”

“And, you know, I spent most of my career making consumer technology, and it just kind of jumped out at me as something that had kind of been Not really looked at in a couple decades. It kind of felt like a relic of the late-twentieth century product design.”

“Where I had to talk to multiple people to even find a contractor would sell me one. Like, most people wouldn't even sell me a heat pump when I wanted it.”

“The relative cost of the heat pump itself is Is, it's small. It's probably 20% or so of the overall cost.”

“Like we've seen some crazy installs with San Francisco, you know, Victorians, row houses that you're going through a hundred year old structure, multiple levels, neighbors on both sides. There, I do not see how you're ever going to do that virtually, at least …”

“We've actually already done some in that we made the unit quite light, so you can, one person can do it as opposed to two, and that's a huge deal.”

“There are parts of the country that makes sense. They're getting fewer and fewer, but they do exist. It's certainly not the West Coast of California, or really any coastal city in America at this point, my view.”

“The single thing that would persuade people to have more heat pumps is if three people on their street had a heat pump.”

“I think it's going to be a little bit harder with heat pumps and there's a couple reasons why that is. One is the main panel can be a bottleneck. Not everybody has room for a heat pump, especially in, let's say, colder areas where the heat requirements are hig…”

“A heat pump, which is both an air conditioner in the summer and a heat source in the winter, will be running precisely when there is a peak situation in the summer or a peak situation in the winter. Actually, it will create a peak demand in the winter that cur…”

“Some of them will raise load growth, EVs and heat pumps certainly being those two. But then there are other DERs which will lower load growth, like energy efficiency, demand response, and certainly solar. So what will be the net effect of those is anybody's gu…”

“For the second year in a row, heat pumps outsold gas furnaces in the U.S. By, in 23, by a significant margin of 21%.”

“For the second year in a row, heat pumps outsold gas furnaces in the U.S. By, in twenty-twenty-three, by a significant margin of 21%.”

“And one of the ones that we talked about there was heat pumps where The market is actually down year over year in overall sales. There's nuance to that because the market for HVAC systems in general is even further down.”

“Heat pumps outsold furnaces for the gas and oil furnaces as heating equipment for the first time last year.”

“Cause you know, heat pumps are, they have much higher penetration already in places like the Southeast where they're predominantly used for cooling than they do in like the Midwest or the Northeast where you need a lot of heating.”

“Now, for example, one success story of late is the state of Maine, which had a 100,000 heat pump sales target for its statewide climate goals, and exceeded that a couple years ahead of schedule, and then revised that goal up to, I believe, a 175,000 systems.”

“I think it's a niche for now. I'd be, I mean, there's a lot of innovation out there that's yet to sort of hit its stride. That could be one where we start to see some interesting market growth. But yeah, I think for now, I mean, most of these products, HVAC an…”

“Overall heat pump installations were flat in investment terms, down a little bit in unit terms last year, relative to the year before. The good news is that their share of the market compared to furnaces continued to grow.”

“We're going to start to see more and more instances in which that distributed load begins to have to be coordinated with the utility because it's going to overwhelm the capacity of, you know, network transformers and, you know, individual households who want t…”

“Heat pumps today have coefficients of performance anywhere from, say, three to upwards of five for really good ones. In other words, you put one kilowatt in, you get three to five out.”

“So in South Carolina, for example, nearly 50% of homes already have them, but in most of the country, and particularly in colder climates, the penetration is a fraction of that.”

“We've already made one investment focused on heat pumps for industrial use, more on that soon, but we're hungry to find more, particularly on the residential side.”

“A medium performance heat pump today when the temperature is around freezing, you know, 32 degrees Fahrenheit, you're probably getting around a coefficient of performance of three when the temperatures, you know, if you're just trying to heat a home. So, you k…”

“By the time you get to around, you know, negative five, -10 degrees, certainly anywhere below that, with almost any heat pump on the market A, that heat pump loses some of its Capacity. So you need a bigger heat pump that starts with higher capacity in order t…”

“Overall, across the U.S., it's around 40%, but that's predominantly because of another sort of magical property of heat pumps, which is that the same system can be used bidirectionally if it's designed appropriately, which means that you can use one heat pump …”

“Roughly speaking for a typical U.S. Household, it means adding new peak load to that home that's equivalent to about, ah, two electric vehicles that are plugged into level two chargers, ah, during those cold periods.”

“I have oil heat in my home, unfortunately, which I'm really embarrassed to say, but that's, like, due to idiosyncratic reasons about the house, and we only moved in two years ago, and I have this big plan to trick this thing out, like, completely when it comes…”

“We're going into each unit. We're putting in all electric induction stoves that use electricity to cook on the stovetop and use electricity to bake. And then in certain kinds of projects, we're going to put in a small modular air conditioner sized heating and …”

“Whether it's a 105 degrees or whether it's five degrees below zero, they are able to function.”

“And once we did that, we were Really happy to see that the benefits were going to be five, eight times the cost of doing this.”

“Over the next decade, we project that a conversion incentive like the one we wrote about would save consumers twenty seven billion dollars.”

“And so for the average family getting one of these units, that's going to work out to around 160 170 bucks each year.”

“And so a heat pump is only marginally more expensive than an air conditioner with, you know, 300 to 600 bucks for the same model if you're looking at the same piece of equipment.”

“If we would like to finish home decarbonization by twenty-fifty, we need to be, around twenty-thirty, installing 100% heat pumps.”

“So an important point on this is heat pumps, when paired with a furnace or other form of backup heat, that's actually increasing consumer choice. Because now you have two different fuels to work with. So you have the heat pump to work with, and you have whatev…”

“We sell four million heat pumps a year in this country, and we sell six million residential air conditioning units.”

“Actually, the Biden administration just announced that they're going to use the Defense Production Act to encourage production of heat pumps for residential and commercial applications, and there was a bill introduced in the Senate that would encourage manufac…”

“I mean, there's definitely going to be tailwinds for heat pumps in the U S for sure, but in Europe, even more so, I think for the next few years.”

“There's a real serious consideration inside the Biden administration to use wartime powers to boost heat pump production and then to send those heat pumps over to Europe to for heating to reduce natural gas consumption.”

“You will also relieve the installation bottlenecks not having enough skilled installers to put a bunch of heat pumps in quickly if you focus first on apartment houses, commercial buildings, the things that have big furnaces and boilers burning a lot of Russian…”

“In Europe, they use a lot of water you know, forced water heating, and we don't have a lot of hydronic heat pumps that do water, you know, air to water type heating. It's just not what we built And use in the U S very often. And so most of the stuff we deploy …”

“And even in the short term, if you look at like the current EU strategy for this year, you know, they're talking about doubling the amount of heat pump deployment next year, and that's enough to reduce the consumption of natural gas, I think by about, if I'm n…”

“It's much cheaper today in, in most parts of the U.S. To use natural gas or fuel oil to create the heat that you need if what you're looking for is heating.”

“What I think is really interesting about all these heat pumps coming online for heating purposes to replace natural gas is that this disrupts the sales cycle of air conditioners as well as a side benefit. So now you have air conditioners, which would last for …”

“Solar so much is the gateway to so much more electrification. So what we find is customers that go solar, they do tend to be the first adopters of heat pumps. They then do tend to be the first adopters of electric vehicles, and so they really, so one of the re…”