Canada to Invest CA$2 Billion to Retrofit One-Million Homes, Cut Energy Costs, PM Carney Says
MT newswire2026/10/08 16:4012:40 PM EDT, 10/08/2026 (MT Newswires) -- Canada will invest CA$2 billion to retrofit one million homes to cut energy costs and emissions, Prime Minister Mark Carney said Thursday. The package includes a new National Heat Pump Rebate covering up to 820,000 households, with rebates of up to CA$10,000 for eligible below-median-income households and CA$2,000 for other eligible households, said Carney in a statement. The rebates can be stacked with existing provincial programs. The government estimates heat pumps will save households using oil or electric baseboard heating about C$1,400 a year. Applications will be confirmed within 24 hours, allowing installations to proceed as quickly as conventional furnaces. The government will partner with the Canada Mortgage and Housing Corporation and Canada Infrastructure Bank to retrofit 280,000 apartments over the next eight years, added Carney. The measures are expected to support one-million home retrofits and reduce Canada's emissions by more than 25 million tonnes, which is the equivalent of taking nearly eight and a half million cars off our roads for one year, according to the government.
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