Since 2019, retrofitting with heat pumps has been rising in popularity among Canadian REITs and large residential landlords looking to invest in cleantech.

A new tax credit will make energy retrofits for multi-unit residential and commercial buildings more affordable, saving owners 5 per cent.

Two distinct, but complementary new federal programs promise funds for community buildings. Both are focused on meeting GHG reduction targets and are aligned with a pledge to invest $15 billion to address climate change and boost the green economy.

The government announced it is investing $5.75 million towards deep energy retrofits in four multi-residential buildings in the cities of Toronto and Hamilton.

The Government of Canada announced it is investing $2.5 million towards clean energy upgrades at 59 Sundance Housing Co-operative in Edmonton.