Canada Announces $2 Billion Plan to Support One Million Home Retrofits
The Government of Canada is investing $2 billion over eight years to support up to one million home retrofits, including a new National Heat Pump Rebate for up to 820,000 households and financing for at least 280,000 multi-unit residential units.
Secretary of State for Rural Development Buckley Belanger highlighted new government measures to lower home energy costs and improve efficiency during an event in Saskatoon, Saskatchewan, on October 23, 2026. 
The initiatives are part of a $2 billion investment over eight years announced by Prime Minister Mark Carney on October 8, 2026, aimed at supporting up to one million home retrofits across Canada.
A central component of the plan is the new National Heat Pump Rebate, which will help up to 820,000 households switch to efficient electric heat pumps. Eligible below-median-income households can receive rebates of up to $10,000, while other eligible homeowners can receive $2,000. The rebate program will be accessible via an online portal with no energy audits required before or after installation, and eligibility decisions will be communicated within 24 hours.
The measures also target multi-unit residential buildings. The Canada Mortgage and Housing Corporation will help retrofit approximately 250,000 units through its Multi-Unit Mortgage Loan Insurance Select program. Additionally, the Canada Infrastructure Bank's Building Retrofits Initiative will support retrofits covering at least 30,000 apartment and multi-unit residential building units. Together, these financing initiatives aim to retrofit at least 280,000 multi-unit residential units.
The combined measures are expected to reduce Canada’s emissions by over 25 megatonnes, equivalent to taking nearly 8.5 million cars off roads for one year. The government stated that the program aims to lower home energy costs, improve home energy efficiency and comfort, strengthen Canada’s economic competitiveness, and increase affordability for families.