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ZEYNEB MAGAVI: Our
next speaker is Tito--

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sorry, Christoph Reinhart.

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And I'm going to, again,
let you introduce yourself.

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CHRISTOPH REINHART: OK.

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I think--

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ZEYNEB MAGAVI: You've got it.

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You're all set.

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CHRISTOPH REINHART:
Thanks a lot, Zeyneb.

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Good morning, everybody.

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Great pleasure to be here.

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Thanks a lot to all of
you for taking the time

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to learn about this
important topic.

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And as Zeyneb said, we all
have to get involved in this

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and become active.

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I didn't learn how to use
a caulk gun from Zeyneb.

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I learned that from
my father-in-law,

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with whom I've done a lot
of building renovations

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over the years.

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But I'm meeting Zeyneb
regularly over the past year

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on pi days and other
events to eat a lot of pie.

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So I think you only know me
with a serious sugar rush.

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[LAUGHTER]

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So let's see where I have
my remote control here.

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Yeah, I think that
fits really well.

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Basically, Jay talked
about the whole planet

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and the effects of various
actions on the planet.

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And I try to make the
jump from the planet

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to the individual
building and what

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this means for an
individual building owner.

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So I'm really excited
about the slides,

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since last week
a little less so.

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But what we put together
basically that as of

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April of last year, we had
a spectacular 148 countries

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that represent 90% of the
world's population and 90%

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of the world's GDP
that had jointly

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said it's a good
idea to decarbonize

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our industry, our world.

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And if we think about in what
kind of incredibly polarized

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times we live--

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and I guess last
week shows that there

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are some bumps in the road
towards this joint goal--

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but that there is
an incredible buy-in

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here towards this idea of having
a net zero global economy.

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And I would call this goal
really, really radical.

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And the reason why
is because it's

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so different from what
we have been doing.

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And not a lot of
people know this.

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I only came across that
a couple of years ago.

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It's really worthwhile
looking this up.

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This 1952 "Paley Commission
Resources for Freedom."

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That was a report
that I would say

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was really the
moment that defined

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global attitude towards
economic growth, fossil fuels,

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and so forth.

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This was done by
a set of experts,

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was really widely published.

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The Paley Commission was headed
by the president of the CBC,

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Paley.

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And basically, the sentence
at the bottom is really key.

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It says that "permanent
economic growth,

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powered by cheap fossil
fuels of arbitrary origin,

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is the overarching political
priority of the 20th century."

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And if you think about it, it's
hard to think of any policy that

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has been implemented
with more vigor over such

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a long period of time.

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And so that in the face of
this we want to change here

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is really remarkable.

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Of course, we really don't want
to get rid of our energy use.

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We want to get rid of
the related carbon that's

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related to the energy.

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But it's a big change.

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What are the drivers
between these changes?

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Well, in a way we
heard about it already.

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There are lots of disasters
happening worldwide.

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There's just political
momentum building,

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and organizations such
as HEET obviously provide

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solutions towards
this global initiative

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to say we want to basically
change the ways we

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deal with our planet.

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I would say, a
key driver is also

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that cities, a lot of cities
are located near the sea.

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And due to sea
level rise, we see

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cities becoming so
much under pressure

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that they're disappearing.

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I'm not sure if you
followed that Jakarta

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is the first mega city
who announced that they're

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going to move Jakarta.

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There won't be any
Jakarta anymore.

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The reason is sea
level rise, overuse

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of groundwater in the city.

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So there are some
dramatic photos out there

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that I didn't want to share due
to our OpenCourseWare friends.

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I'm not even sure if I'm
allowed to show this graph here

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from The New York Times.

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But it's very dramatic
what is going on there.

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And then finally,
of course, we hear

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that all the time
more and more extreme

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weather events are happening.

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This graph we put together
a couple of months

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ago that basically looks at
NOAA's recorded extreme weather

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events--

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well-- over the last 70 years.

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And 90% of these events have
happened in the last decade.

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So it's really dramatic
what is happening.

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And I'm told I have to speed up.

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So now I try to make this jump.

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How do we get basically
from our goal of--

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these are of reducing
the temperature,

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keeping global temperature
rise, let's say, under 2 degrees

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C, whatever our goal is?

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Then we know we have
930 gigatons of CO2

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left to make the global building
stock-- or the global economy

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carbon neutral, really.

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If we are releasing more
carbon in the atmosphere,

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it's going to get warmer.

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So if we now say, OK.

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The building stock
can take 40% of this,

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then an easy number
to remember is

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that we have 340 gigatons
and 30 years left

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to make the global building
stock carbon neutral.

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Now, this is our budget.

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Where can we spend
our budget on?

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It's basically the projections
are that the global build area

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is going to double by 2050.

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So this is our budget, and this
is where we have to spend it on.

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This is a simple
graph that shows

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three predictions of what we
could do to the global building

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stock.

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Business as usual says 1%
renovation rate globally.

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This is what we currently have.

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And by 2050 we will
have net zero solutions

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for all buildings,
new and renovated.

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That is going to blow
our budget dramatically.

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Then the top of the
orange line shows

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what happens if we have, in 10
years, net zero new buildings

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for all new construction, and we
increase the retrofitting rate

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to 5% per year.

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That still doesn't
get us fully there.

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We also need to have, by this
point, embodied net zero.

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So all the energy that goes
into building the buildings,

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we somewhat have to have
net zero technologies.

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We have zero ideas of
how to do that right now.

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But if we are putting
that together,

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really, I would say there's a
three-pronged approach of how

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we are going to move the
building stock around.

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One is, again, 5%
renovation rate per year.

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Within 10 years, we need to
have carbon-neutral solutions

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for all new construction
and for building retrofits.

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And really, I would really
question this terrible notion

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that we have to
double the build area.

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Like in 5-- in 30 years, we're
going to build what we have

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built in the last 5,000
years seems a terrible idea.

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So more efficient space use
is very important as well.

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So since I have
only two years, I'm

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now trying to take it down
right to the individual owner.

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So if you have a typical
building in New England

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right now in Massachusetts,
the main proposal that you get

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is put PV on your rooftop and
put in an air source heat pump.

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That's really what
Massachusetts is pushing.

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And so if we look at what that
means it's basically if you just

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in isolation put in a heat pump
that in the best case scenario,

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unless you do it yourself,
costs you about $25,000.

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And that's important if you're
using natural gas right now,

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increase your operating costs.

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So really, from an economic
standpoint, the best you can do

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is put a heat pump, use an
air-source heat pump and a PV

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system.

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But what that happens--

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if you are doing that,
then of course, very

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suddenly you have
a building that

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puts a really strong
strain on the grid

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because you're creating the
electricity in the summer,

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but you're having a new peak due
to your heat pump in the winter.

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And so we don't have any big
battery lying around somewhere.

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So that is a key
problem overall.

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And so what we should really
do, and I know I'm really there,

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is we have to have
a detailed-- we have

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to offer every homeowner a whole
series of different choices

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that they can make with
LEDs, better appliances,

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retrofit their building,
PV, putting in a heat pump.

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This type of analysis we want
to give to every homeowner.

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And in order to reach
this goal, we're

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working with the state of
Massachusetts right now.

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We build a model, a
2.5 million buildings.

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And the way this is going to
look like, in a few weeks,

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you can go to your building.

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You can set what have I done
to my building right now?

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And then we're going to give
you estimates in terms of cost,

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carbon savings, and so
forth, what you can do.

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Right now, in the
first instances

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we probably have air-source
and ground-source heat pumps,

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not a network.

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But these are things
that we can introduce

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over time if there's interest.

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Thank you.

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[APPLAUSE]

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