Government of Canada investing $2 billion over eight years to support one million home retrofits across Canada
The Government of Canada is taking action to help Canadians save on their energy bills and to make homes more comfortable and energy efficient.
Today, in Saskatoon, the Honourable Buckley Belanger, Secretary of State for Rural Development, highlighted the landmark $2 billion investment over eight years announced by Prime Minister Mark Carney on October 8, 2026, to support up to one million home retrofits across the country. This initiative will help reduce energy costs for Canadians, improve home energy efficiency, make homes and buildings more comfortable, and strengthen Canada's economic competitiveness.
As part of this investment, the Government of Canada will introduce the new National Heat Pump Rebate to help up to 820,000 households switch to more efficient electric heat pumps.
The government is also working with the Canada Mortgage and Housing Corporation and the Canada Infrastructure Bank to help apartment building owners retrofit at least 280,000 units over the next eight years through three complementary measures:
- Providing affordable financing for retrofits: Through its Multi-Unit Mortgage Loan Insurance Select program, the Canada Mortgage and Housing Corporation will help retrofit approximately 250,000 units.
- Unlocking investment in apartment buildings: Through its Building Retrofits Initiative, the Canada Infrastructure Bank will support apartment and multi-unit residential building retrofits covering at least 30,000 units.
- Supporting building owners throughout the retrofit process: The government is renewing the Deep Retrofit Accelerator Initiative, which provides support to building owners at every stage of the retrofit journey.
Combined, these measures will support one million home retrofits and reduce Canada's emissions by over 25 megatonnes-the equivalent of taking nearly 8.5 million cars off Canadian roads for one year.
