Latest / The Canadian Real Estate Investor
The $2 Billion Heat Pump: Who Actually Gets Paid
Ottawa just put $2 billion on the table for the new National Heat Pump Rebate: up to $10,000 if you’re below median income, $2,000 for everyone else.
Nick and Dan go through the fine print. You get one rebate per person, not per property, and the $1,400 savings claim covers oil and baseboard homes, not gas. Then they run the real Toronto numbers. With the carbon charge gone, a heat pump costs more to run than a gas furnace, so for most Ontario homes it only makes sense when the furnace and AC need replacing at the same time.
They also cover cold weather performance, the panel upgrade…
The skinny
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