Homeowners can be happy: Kreditanstalt für Wiederaufbau offers high financing to anyone who modernizes their heating systems.
Munich – Autumn is just around the corner, and for many people it is the right time to turn up the heating again. Anyone who is thinking of investing in modern, energy-efficient heating should be happy in light of the news about the energy transition. Not only is Federal Minister Robert Habeck promoting heat pumps, but the German Development Bank (Kreditanstalt für Wiederufbau) is also providing substantial financing. This means that up to 70 percent of eligible costs can be subsidized.
KfW heating financing starts in September – and craftsmen have a special role to play
The German Development Bank announces on its website that it supports the purchase and installation of solar thermal systems, biomass heating systems, electrically driven heat pumps or fuel cell heating systems. Financing is available to individuals who own or are owner-occupied with single-family homes in Germany. Owners of apartment buildings with more than one dwelling unit and homeowners' associations are also eligible for financing.
A quick look at KfW financing
The German Development Bank takes into account up to 30,000 euros as financing costs and subsidizes up to 70 percent of this amount. Owners of existing residential buildings in Germany can benefit from the financing. The purchase and installation of a new climate-friendly heating system is supported.
Source: German Development Bank
Before potential applicants can submit their application, they will need a confirmation from an energy efficiency expert. Many licensed craftsmen can issue this confirmation, and the German Development Bank provides a list of such companies. In addition to the confirmation, there must also be a delivery or service contract, which only becomes valid once the financing has been approved. This contract can be concluded directly with the specialist company.
The earliest date for submitting heating financing is the end of September 2024.
After receiving expert confirmation, interested parties create a user profile on the KfW portal and submit the application there. Once the grant is approved, the installation can begin. It is important that the entire project is completed within three years of KfW approval.
Anyone applying for financing to the German Development Bank must not only provide confirmation from the specialist company, but also identify themselves. This can be done, for example, using the Postident or Video-Ident procedures. In the “My KfW” customer portal, this will be possible for owners of owner-occupied single-family homes from September 30, 2024, and for owners of multi-family homes and homeowners' associations only from November 2024.
By switching to renewable energies, for example in heat generation, private households can save money. Tens of thousands of financing applications have already been accepted for 2024. (building)
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