The following is a guest article by Pierre Gosselin.

In Germany, the Federal Ministry of Economics, headed by Robert Habeck (Green party), has “grossly miscalculated” the cost of removing oil and gas heating systems from homes and buildings and installing heat pumps in their place by 2045.

Instead of a 132 billion euro bill for citizens by 2045, the real price tag will be a whopping 621 billion euros!

The total real price tag for all buildings will be 776 billion euros.

“According to calculations by the property owners’ association Haus & Grund, Minister Habeck and his ministry have miscalculated by several hundred billion euros,” reports the German website Pleiteticker.de here.

Habeck’s Federal Ministry of Economics estimated the costs for homeowners at around 135 billion euros by 2045, however “citizens will have to pay many times the calculated costs.”

The president of Germany’s property owners’ association, Kai Warnecke, told Bild newspaper, “The target is 500,000 new heat pumps a year, at an average cost of 40,000 euros per heat pump.” But the real number would have to be 1.5 million heat pumps each year if Germany wishes to reach its stated 2045 target.

Another huge mistake made by Habeck’s Ministry is forgetting that heat pumps have a lifetime of only 20 years, so by 2045, the pumps will need to begin being replaced. Habeck pledges to support citizens in replacing their oil and gas heating systems but provides no details on the plan.

Kai Warnecke warns of the huge costs in the pipeline for Germans: “If we assume that about 80 percent of the buildings are in the hands of the citizens, they will have to pay about 620.8 billion euros of the total 776 billion euros.”

Critics are already calling the proposed bill incoherent and the project’s feasibility to be non-existent. Many homeowners are already struggling financially from high electricity prices and inflation.

More than 1 trillion euros for a statistically insignificant climate benefit.

And when the costs of extensive home renovation get added in, the total price tag soars to well over a trillion euros. Yet, the impact on the globe’s temperature from Germany’s planned contribution will be statistically insignificant.

This piece originally appeared at notrickszone.com and has been republished here with permission.