Prime Minister Mark Carney has announced $2 billion in funding over eight years for home retrofits, including rebates for homeowners who install electric heat pumps.
The National Heat Pump Rebate program is estimated to provide rebates to up to 820,000 homeowners, with the federal government projecting annual energy-bill savings of more than $1,400 for households currently using oil, propane, or electric-resistance heating.
“When fully taken up, these upgrades will save Canadian families more than $1 billion every year on their energy bills,” Carney told reporters in Sherbrooke, Que. on Oct. 8.
Eligible households with incomes below the median could receive up to $10,000 toward an eligible electric heat pump, while other eligible homeowners could receive $2,000, the Prime Minister’s Office said in a release. The federal rebates can be combined with existing provincial programs….