Prime Minister Carney announces landmark investment to retrofit one million homes, cutting energy costs and emissions

The world is changing rapidly. In response, a confident Canada is choosing to build. We are building major infrastructure projects – new ports, mines, highways, and clean energy corridors that will transform our economy and unlock billions of dollars in new investment. We are doubling our grid through our National Electricity Strategy, to harness Canada’s electricity advantage and provide more clean, reliable, and affordable power for Canadians.

Heating is one of the biggest expenses for Canadians during the winter months, and too often that money goes to the most expensive and least efficient ways to heat a home. Over seven million households in Canada still heat their homes with oil, propane, diesel, electric baseboards, or outdated furnaces. Our government is laser-focused on giving Canadians options to lower their energy costs. That’s why, as part of our National Electricity Strategy, we committed to help one million Canadian households make retrofits.

To that end, the Prime Minister, Mark Carney, today announced a $2 billion investment to deliver one million home retrofits across Canada. These energy-efficient retrofits will lower heating costs for Canadians and reduce emissions.

First, we are launching a new National Heat Pump Rebate to help up to 820,000 households make the switch to more efficient electric heat pumps. We will do this by:

Heat pumps are more efficient, cleaner, and safer than oil and electric furnaces. They will save an average of $1,400 a year for households currently heating with oil or electrical boards.

Second, we are working 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. We will do this by:

Combined, these measures will support one million home retrofits and reduce Canada’s emissions by over 25 megatonnes – the equivalent of taking nearly eight and a half million cars off our roads for one year.

Today’s announcement delivers on a core commitment of our National Electricity Strategy. It is part of our broader mission to build at speed and scale to double our energy infrastructure and build a strong Canada that is powered by clean, affordable, and reliable energy. A plan that, done right, lowers costs for Canadians and reduces emissions.

“Canada strong starts in a warm home. Today, we are helping one million more Canadian households make energy efficient retrofits. We are lowering costs, reducing emissions, and building a stronger and more sustainable economy for all.”

The Rt. Hon. Mark Carney, Prime Minister of Canada

“Building a stronger Canada means making life more affordable for Canadians while cutting emissions and building a cleaner, more resilient economy. When we help families and homeowners make their homes more energy efficient, they use less energy, save more on their bills, and reduce the emissions that drive climate change. By taking full advantage of Canada’s clean electricity advantage, we can lower costs, cut pollution, and create a stronger economy for Canadians today and for generations to come.”

The Hon. Julie Aviva Dabrusin, Minister of the Environment, Climate Change and Nature

“Affordable housing is also about affordable energy bills. By supporting energy efficient retrofits in apartment buildings and multi-unit housing, we’re helping lower costs for Canadians, improve housing quality, and build more sustainable communities.”

The Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada