Heat pumps are an important part of the electrification story because heating and cooling is such a large load on the grid.
Even with the growing adoption of EVs, it is anticipated that heating and cooling will remain the largest load because heating and cooling appliances run for many more hours.
Most utilities have targets to put a certain number of heat pumps in the field, but they're all struggling, because the economic story doesn't work for consumers that easily. If I have a fully working heating or cooling system, then the motivation for me to go replace that with a heat pump is very low.
So it's important that utilities can identify homeowners that are best suited for targeting heat pumps. What does that mean? That means I'm running my heating for many hours, or I have a very inefficient system, then I'm a better target to replace with heat pumps, because my payback period will be faster.
So identifying customers who would benefit fastest in terms of return on the investment even after the rebate amounts is going to be one of the fastest ways to accelerate the adoption of heat pumps.
And this is what technology can do. Bidgely's technology can help utilities understand which consumers are using heating and cooling appliances, how large those appliances are and what fuel type, and how to identify the best targets for heat pump replacement. We can help accelerate heat pump replacement with a clear financial ROI equation for consumers.
