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Apr 4, 2023

Federal Budget 2023 Offers Heat Pump Incentive

Through Budget 2023, the government of Canada wants to help homeowners reduce home heating bills by offering $10,000 towards the switch from home heating oil to electric heating pumps. Eligible homeowners across Canada can register through the Canada Greener Homes Initiative (CGHI) to apply and access the funds. The Oil to Heat Pump Affordability Program is geared to low-to-middle-income households currently heating their homes with oil. If they qualify, they will receive a total upfront payment of up to $10,000 toward the purchase and installation of a new, electric cold-climate heat pump. This includes up to $5,000 from the Canada Greener Homes Grant (CGHG). Homeowners may also benefit from combining federal support with other existing local, provincial, territorial, and utility programs.

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