The scheme, known as the Building Energy Act (GEG), is extremely expensive, estimated to cost the German economy more than $1 trillion over the next two decades.
As politicians celebrated the law's passage, ordinary Germans, many of whom are having trouble making ends meet with skyrocketing inflation and an ever-slowing economy, lamented the mandate. Most Germans are opposed to the new law, according to polling, but it was passed regardless.
Germans says their government rushed the new law through at warp speed without the normal legislative process with parliamentary hearings. Instead, it appears to have been passed in a rogue type of way without any public input.
"The law mandates that Germans with older heating systems replace them within a certain time period, although the final bill passed watered down some requirements and carved out some exceptions," reports Remix.
"Nevertheless, the final cost of the bill is still expected to be enormous, with high estimates placing it at €1 trillion and lower estimates hovering at €600 billion."
(Related: Businesses all across Germany are going bankrupt because of the nation's corrupt green policies, which are driving up energy prices un-affordably sky-high.)
Middle class, seniors on fixed income hit hard as their older homes are already losing value because of the new law
Because of the way the bill was crafted, poor and middle-class folks, as well as seniors on a fixed income, are being hit the hardest by it. Only the rich will be able to survive its implications, in other words.
"Many Germans have all of their savings in their home, and for many seniors, their homes, often featuring older heating systems, have seen their value take a hit due to the law," Remix explains.
"At the same time, in the coming years, they will be forced to make costly heating upgrades – usually in the form of a heat pump and the associated costs of making it work efficiently inside a building – to meet new green standards."
Another negative byproduct of the new bill is that landlords throughout Germany will now have the incentive to increase rents since their buildings are older, in many cases, and will need to be retrofit to meet the new rules.
As much as three-quarters of all older buildings in Germany were constructed before the first thermal insulation regulations came into effect back in 1979. Now, these older buildings will need to be made energy "efficient," which will cost nothing short of a fortune.
Keep in mind that Germany is currently in the process of completely phasing out all nuclear power, which is occurring at the same time that oil and natural gas prices have skyrocketed due to the war in Ukraine and other factors.
The Alternative for Germany (AfD) party has promised to abolish the new law should it come to power, a move that is already causing the party's polling numbers to soar.
"The AfD faction strictly rejects Habeck's (...) heating hammer. Despite severe criticism, the law was neither postponed nor defused," commented Marc Bernhard, a parliamentary spokesperson for the AfD.
"The tricky thing about the law, however, is that the heating has to be torn out again if it does not meet the municipalities' heat planning required by 2028. In this way, the government is hiding the devastating consequences for millions of people and is transferring the risk of the heat transition to the citizens."
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