Secretary of State Belanger highlights new measures to lower home energy costs and improve energy efficiency

Government of Canada investing $2 billion over eight years to support one million home retrofits across Canada

SASKATOON, SK, Oct. 23, 2026 /CNW/ -- 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.

Quotes

"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 Honourable Julie Dabrusin, Minister of Environment, Climate Change and Nature

" In Saskatchewan, we know how quickly heating costs can add up during our long, cold winters, especially for families in our rural and northern communities. That's why we're introducing rebates of up to $10,000 for lower-income households and $2,000 for other homeowners to upgrade their homes with new, energy-efficient heat pumps. By helping more Canadians lower their energy bills, we're making it easier for families to keep more of their hard-earned money in their pockets."

– The Honourable Buckley Belanger, Secretary of State for Rural Development

Quick facts

• On October 8, 2026, Prime Minister Mark Carney announced a $2 billion investment over eight years to support one million home retrofits across Canada.
• The new National Heat Pump Rebate will help up to 820,000 households install eligible electric heat pumps.
• Eligible below-median-income households could receive rebates of up to $10,000, while other eligible homeowners could receive $2,000.
• The program will be accessible through an online portal, with no energy audits required before or after installation. Eligibility decisions will be communicated within 24 hours.
• The Canada Mortgage and Housing Corporation and the Canada Infrastructure Bank are expected to support energy-efficiency retrofits in at least 280,000 apartment and other multi-unit residential units over eight years.
• The measures are expected to reduce Canada's emissions by more than 25 megatonnes.

Associated links

• Powering Canada Strong: A National Strategy for an Electrified Canadian Economy
• Oil to Heat Pump Affordability Program
• Canada Greener Homes Affordability Program

Stay connected

Follow Innovation, Science and Economic Development Canada on social media.

X (Twitter): @ISED_CA | Facebook: Canadian Innovation | Instagram: @cdninnovation | LinkedIn: Innovation, Science and Economic Development Canada

For easy access to government programs for businesses, download the Canada Business app.

SOURCE Innovation, Science and Economic Development Canada

Contacts: Connor Burton, Director of Communications and Issues Management, Office of the Secretary of State for Rural Development, [email protected], 343-549-8093; Media Relations, Innovation, Science and Economic Development Canada, [email protected]