Porous medium electromagnetic (EM) heat exchangers are devices which absorb EM radiation and convert its energy into thermal energy for a specific purpose, such as to power a turbine. They have recently been of growing interest, yet the field is predominantly studied with thermal resistance network models and is in need of more rigorous continuum modeling. Electromagnetic heating in which the wavelengths are much longer than the microscale has application to microwave and millimeter wave heating where the microstructures of heterogeneous material are comparably small. Homogenization methods average over the microscale to obtain a macroscopic description of the material. Homogenization has been used in low-frequency electromagnetics to describe macroscopic behavior of traveling waves. While dielectric material parameters vary with temperature, coupling the energy equation with Maxwell’s equations, little effort has been made toward homogenization techniques that capture the effects of this dependence, which is necessary to accurately model porous medium heat exchangers. We consider a laminate geometry composed of alternating layers of lossy dielectric material and lossless fluid channels in the homogenization limit. This model advances the designing of materials that facilitate efficient collection of energy in electromagnetic heat exchangers.