(1) On or before August 1, 2024, the office shall commence a study with targeted stakeholder input to explore how to accelerate adoption of heat pump technology in Colorado through a technical standard for applicable air conditioners. (2) In conducting the study, the office shall: (a) Focus on a statewide point-of-sale standard on new and replacement air conditioners; (b) Consider equipment performance in different climate zones and conditions; (c) Consult with stakeholders from manufacturers, distributors, contractors, heat pump experts, green builders, environmental justice groups, and utilities serving retail customers; (d) Use data and findings from recent public utility proceedings to accelerate data collection for the study; (e) Determine the requirements for successful implementation of a statewide point-of- sale standard; and (f) Make recommendations on how the state can address any associated needs or gaps before a statewide point-of-sale standard takes effect. (3) In conducting the study, the office shall assess and determine: (a) Up-front cost gaps and ongoing costs and cost savings for residential homes from implementation of a statewide point-of-sale standard; (b) Whether and where federal, state, local, and utility incentives can cover any identified cost gaps, and make recommendations for what, if any, new incentives may be needed for income-qualified households; (c) Any technical limitations, and potential remedies for those limitations, for a statewide point-of-sale standard; (d) System configuration options for cold-temperature performance; (e) Necessary customer information regarding cold-temperature performance; (f) What, if any, exceptions or exemptions may be necessary for a statewide point-of- sale standard and how such exceptions or exemptions could be administered; (g) Potential improvements to the state income tax credit created in section 39-22-554; (h) Supply chain status; (i) Contractor training needs; and (j) Quality assurance measures. (4) The office shall deliver the study results to the chairs of the transportation and energy committee of the senate and the energy and environment committee of the house of representatives, or any successor committees, according to the following schedule: (a) On or before January 1, 2025, the office shall deliver a progress report; (b) On or before March 1, 2025, the office shall deliver interim results and legislative recommendations; and (c) On or before June 1, 2025, the office shall deliver the final study and final legislative recommendations.
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