Heat pump: This radical decision becomes a blessing for German homeowners

As popular as masks were at the beginning of the pandemic, Germans are currently rushing to heat pumps. In 2022, their sales in Germany more than doubled compared to the previous year. 236,000 devices were sold in Germany last year, according to figures from the German Heat Pump Association (BWP) and the German Heating Industry (BDH). Just now, the German heating engineering giant Viessmann is selling its air conditioning division, including the heat pumps, to the USA – is the timing a coincidence?

Heat pump giant Viessmann sells business in the USA: Expert reveals – that’s the real reason

In any case, an “interesting timing”, thinks Jens Suedekum – Professor of International Economics – from the Heinrich-Heine University in Düsseldorf. “The prices for heat pumps will continue to go through the roof,” says Suedekum. The market is booming and attracting competitors from Asia. “The prospect of market size attracts new competitors.” This in turn puts pressure on German providers.

Viessmann sells its heat pump division: a clear sign of how consumers will benefit from this

Suedekum is confident: “The prices will drop significantly in the coming years”. Because straight asian Heat pump producers are designed for mass production. “The amount of heat pumps sold will continue to rise – but not necessarily the profits of the established German suppliers.” Viessmann recognized this dynamic and responded. “Now the profits are still high. In a few years, the group might not have received twelve billion euros,” predicts the expert.

For Suedekum, the sale of the heat pump division to the USA is a harbinger of falling consumer prices. Buy the heat pump now or wait? Suedekum’s tip: “Clever consumers can benefit from significantly lower prices in a few years.” In the short term one has to deal with longer delivery times and rising prices for heat pumps calculate. The expert also attributes this to the traffic light coalition’s plans for a ban on gas and oil heating and the resulting uncertainty.

Heat pumps will soon be significantly cheaper? Asian providers are still facing a crucial problem

In the medium and long term, the market situation but relax, the expert predicts. But why is the German heat pump market only now becoming interesting for Asian manufacturers such as Daikin (Japan) or Samsung (Korea)? After all, the trend towards heat pumps in Germany is in view of the sales figures recognizable since 2003. Suedekum attributes this to the lack of a network of installers, among other things. “Just a few years ago, the market was comparatively small.”

Craftsmen would have recommended the heat pumps from German manufacturers to their customers – especially since they are familiar with the technology. Foreign companies simply did not have access. “Now, however, foreign providers have recognized the dynamics and are investing heavily in the German market.” In the future, consumers will have more choice among suppliers. And the higher the supply, the tougher the price war.

Expert assesses the sale of Viessmann in the USA as positive: a clear sign for consumers

The expert does not dare to forecast how prices will develop in concrete terms. Other experts, such as Benjamin Weismann from the Energy Advisory Association GIH, are also reluctant to answer this question. In an interview with our editorial team on the development of prices for new heating systems, Weismann gives homeowners one crucial tip: wait.

From his point of view, prices will fall in the next two years. “The production capacities are currently being massively expanded.” So there is a lot of savings potential in the coming years. In addition, the federal government is planning more subsidies for a new heating system from 2024 – an initial funding concept is in place and provides for subsidies of up to 40 percent.

Buy a heat pump now or wait: Experts with a clear assessment – ​​who should wait and see

Consumers can thus save in several ways. On the one hand, according to the two experts, the prices for heat pumps will in all likelihood fall. On the other hand, the state is expanding its funding concept. Delivery bottlenecks and the lack of skilled workers should also improve in the medium and long term – which in turn are factors for falling prices. Anyone who is not affected by the obligation to replace old gas and oil heating systems in 2023 or is struggling with a broken heating system can wait and see.

More articles from this category can be found here: Life