What happened
The federal government announced a $2 billion investment to complete energy-efficient retrofits on one million homes across Canada. This is part of the National Electricity Strategy.
The measures include two parts.
First, a new National Heat Pump Rebate to help up to 820,000 households switch to more efficient electric heat pumps. The official page states that eligible below-median-income households will receive a rebate of up to $10,000 for the purchase of an electric heat pump, and other eligible households will receive $2,000. Both rebates can be combined with existing provincial programs to bring the cost down further.
Second, the government is 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. CMHC will help retrofit up to 250,000 additional units through its Multi-Unit Mortgage Loan Insurance product, and the CIB will support apartment and multi-unit residential building owners to retrofit 30,000 units through its Building Retrofits Initiative. The government is also renewing the Deep Retrofit Accelerator Initiative to support building owners through all stages of the retrofit process.
What the official text says
> 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.
> Eligible below-median-income households will receive a rebate of up to $10,000 for the purchase of an electric heat pump. Other eligible households will receive $2,000 .
Who is affected
Canadian households that own or plan to renovate their own homes, especially owners currently heating with oil, propane, diesel, electric baseboards, or outdated furnaces. The official page states that over seven million households in Canada still heat their homes with these methods.
Owners of apartment and multi-unit residential buildings are also affected, through the CMHC and CIB retrofit financing arrangements.
When it starts
The official page does not state an effective date for the rebate and financing measures.
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