Where is the catch with these cheaper heat pumps? Can the above-mentioned pumps really be installed without any worries?
Panasonic is one of the largest heat pump manufacturers worldwide and certainly not a backyard developer. They practically invented the heat pump. Modulating compressors, phase control, pulse width modulation – none of that comes from Germany, but from the Far East. Whether it was Panasonic, Mitsubishi, or LG (Korea) I don’t know, but they all know what they’re doing.
Why are they so “cheap”? Because heat pumps are not rocket science, actually easier to build than gas or oil condensing boilers. (Almost) The whole world heats and cools with heat pumps, and accordingly many of them are made by the big tech companies. The material is not particularly complex, the only sensitive parts are the compressor and the software for control, so that efficiency is as high as possible.
Generally, monoblock units are cheaper than the split units commonly installed here in the country. The difference is that with a split unit, the evaporator and compressor are outside and a refrigerant line leads to the indoor unit. There is the condenser/heat exchanger and ancillary components (3-way valve for hot water, expansion vessel, possibly sludge separator).
In the monoblock, the pump and heat exchanger and sometimes also the expansion vessel are built into the outdoor unit. This means you don’t need an extra unit indoors, just a control panel and piping plus a valve for hot water preparation. And you don’t have to handle refrigerant, so you don’t need a license for installation/start-up.
In Germany, it’s all a matter of market access: installers have been working with Viessmann, Buderus / Bosch, Vaillant, Weishaupt and maybe Wolff for 70 years (or longer). And if they need something, they ask them. Panasonic (and all other Asian/American competitors) are simply not so well established in Germany yet → see Carrier entry at Viessmann.
Appearance also always plays a role here, and you have to admit that a Bosch turbine in the front yard looks better than the Asian pump with backyard air conditioner look. But that is changing too. The new Panasonic K/L series is quieter than Hydrosplit (refrigerant in the outdoor unit with heat exchanger – only water pipes indoors and there an indoor unit with pump, filter, expansion vessel and 3-way valve for quasi “plug and play”), uses propane as refrigerant, and visually is more at the German market level – for that also somewhat more expensive than the predecessors, but significantly cheaper than some competitors.