Canada Announces $2 Billion Investment to Support One Million Home Retrofits
On October 9, 2026, the Government of Canada announced a $2 billion investment over eight years to support up to one million home retrofits, including a new National Heat Pump Rebate for up to 820,000 households. The measures are projected to reduce emissions by over 25 megatonnes.
On October 9, 2026, the Government of Canada announced a $2 billion investment over eight years aimed at helping Canadians reduce energy costs and improve home energy efficiency. The initiative will support up to one million home retrofits across the country.
A central component of the announcement is a new National Heat Pump Rebate designed to help up to 820,000 households switch to more efficient electric heat pumps. The rebate program will be accessible through an online portal that does not require energy audits before or after installation, with approvals available within 24 hours.
The government is also partnering with the Canada Mortgage and Housing Corporation (CMHC) and the Canada Infrastructure Bank (CIB) to help apartment building owners retrofit 280,000 units over the next eight years. Through its Multi-Unit Mortgage Loan Insurance Select program, CMHC will assist in retrofitting up to 250,000 additional units. Meanwhile, the CIB’s Building Retrofits Initiative will support apartment and multi-unit residential building retrofits covering at least 30,000 units. To further assist property owners, the Deep Retrofit Accelerator Initiative is being renewed to provide support throughout the retrofit process.
Combined, these measures are expected to reduce Canada’s greenhouse gas emissions by over 25 megatonnes, an amount equivalent to taking nearly 8.5 million cars off roads for one year. Wade Grant, Parliamentary Secretary to the Minister of the Environment, Climate Change and Nature, and Bruce Fanjoy, Member of Parliament for Carleton, echoed the investment announcement.
The retrofit funding follows the May 2026 launch of Powering Canada Strong, a national electricity strategy introduced by the Prime Minister. That strategy aims to double the capacity of Canada’s electricity grid by 2050 and is expected to deliver up to $15 billion in total energy savings by that year.