Heat pump rental to rev up German expansion of low carbon heat

Germany’s largest heating installer, Thremondo, is partnering with LG Electronics to offer customers a rental option on heat pumps to replace oil and gas boilers.

Thermondo chief executive Philipp Pausder said the company aims to install nearly 10,000 pumps by the end of 2023, charging a monthly fee starting from €159, with the customer only paying for the electricity needed to drive the units.

“Not every homeowner has €25,000 to buy a heat pump,” said Pausder. “With a rental model, the target group becomes larger. We are Germany’s best chance of six million climate-neutral homes by 2030.”

According to economy minister Robert Habeck, Germany aims to accelerate the installation of heat pumps to reach a rate of more than 500,000 per year from 2024, to reach at a total of six million by 2030 under climate protection laws.

Thermondo believes that six million homes are suitable for having a heat pump installed.