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In this episode of The Heat Pump Podcast, Amply co-founders Ed Smith and Eric Fitz sit down with Samir Pendse, CEO and co-founder of Coral, an innovative startup simplifying the notoriously complex world of heat pump rebates. With an extensive background in fintech and small-business lending, Samir explains how Coral transforms cumbersome rebate processes into instant savings at the kitchen table, boosting contractor sales and customer satisfaction.

Why This Matters

Rebates are a critical part of the heat pump sales process in many states. Yet, contractors regularly face significant financial risks, paperwork headaches, and unpredictable cash flow when manually managing rebates. Coral tackles these problems head-on, ensuring contractors and homeowners alike benefit immediately without the usual stress or uncertainty.

Key Learnings:

-Turbo Tax for Heat Pump Rebates: Coral uses software to provide a simple, 60-second app experience to quickly and accurately calculate and guarantee rebate amounts right in the home.

-Instant rebates boost sales: Contractors using Coral see up to 15% higher conversion rates.

-Stable state rebates: Utility and state-driven rebates remain robust despite federal IRA program delays.

-Financing is critical: Low-cost loans dramatically increase heat pump affordability for the average homeowner.

-Quality and simplicity: Smart policy design and streamlined technology ensure both accessibility and high-quality installations.

-Streamline with software: Software tools like Coral (and Amply) simplify and accelerate rebate processes and heat pump sizing.

Timestamps

[00:00] - Introduction

[01:21] - Meet Samir Pendse & Coral’s mission

[04:01] - Business model & Value to contractors

[05:16] - Origin story & pivot from software to financing

[09:39] - Real-life rebate pain points Coral is solving

[15:14] - Financing the rebates & making contractors whole

[18:48] - Incentives & the Inflation Reduction Act

[27:19] - Quality assurance & software-enabled simplicity

[36:25] - Final thoughts & Resources for heat pump entrepreneurs

Connect with Samir Pendse:

LinkedIn: https://www.linkedin.com/in/samirpendse/

Website https://www.startcoral.com/

Email: [email protected]

Company’s Linkedin: https://www.linkedin.com/company/startcoral/

Follow the Hosts:

Ed Smith: https://www.linkedin.com/in/ed-smith-5aa8716

Eric Fitz: https://www.linkedin.com/in/ehfitz/

Amply Energy Website: https://www.amply.energy/

Amply Energy YouTube: https://www.youtube.com/@amplyenergy

Amply Energy Facebook: https://www.facebook.com/amplyenergy

Amply Energy Instagram: https://www.instagram.com/amply_energy/