The Ledger
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Lambert: Heat pump hardware is only about 20% of installation cost
“The relative cost of the heat pump itself is Is, it's small. It's probably 20% or so of the overall cost.”
Lambert: Quilt buys line hide for $1/ft versus US distributors' $25/ft
“The typical distributors today, if you go at, kind of, if you're a contractor and you're gonna go buy it from one of the big distributors, you're paying about 25 dollars a foot for that line hide. We've been able to source it from China for less than a dollar …”
Lambert: Dual-Fuel Heating Is Unnecessary in Any Coastal US City
“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.”
Lambert: Traditional mini-split heat pumps look like late-twentieth-century relics
“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.”
Lambert: Most HVAC contractors initially refused to sell him a heat pump
“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.”
Lambert: Materials will see the biggest HVAC installation cost drop
“If you were to look at those three buckets, those cost drivers, and which ones we're going to have the biggest improvement on over the next two, three years, it's the materials.”
Lambert: Complex historic home heat pump installs cannot be surveyed virtually
“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 …”
Lambert: 60% of Quilt customers replace central ducted systems with ductless
“We actually just pulled the stat, it's about 60% of our customers are coming from a central ducted system. So it's over half of all our customers are abandoning, ah, a central heating and cooling system.”
Lambert: Quilt will vertically integrate in major metros and partner elsewhere
“So, we will continue to do the vertical integrated thing. And we're going to do that in probably a lot of major metros in the US, but I want everybody to be able to get a quality pump. We want to accelerate the energy transition. We want to bring a great quali…”
Lambert: Quilt heat pumps are light enough for one-person installation
“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.”
Lambert: Emergencies drive 50% of heating purchases but under 25% of cooling
“On the heating side, it's roughly 50% of the market today. So it's like people will, their furnace dies, that's where they'll, they'll get it. On the cooling side, it's less than a quarter”
Lambert: Quilt tracks 'dead furnaces' removed as a core board-level KPI
“One of our top company metrics that we literally report every Tuesday and we report to the board is dead furnaces. We have a furnace graveyard, and we are very proud of every time that we pull a fossil system out of out of a home. It's one of our key metrics.”