Sherbrooke, Oct. 9 -- Prime Minister Mark Carney on Thursday announced a $2 billion federal investment to retrofit one million homes across Canada, led by a new national rebate of up to $10,000 for households that switch to electric heat pumps.

The government says the measures will lower heating bills and cut emissions by more than 25 megatonnes, equivalent to taking nearly 8.5 million cars off the road for a year.

Heat pump rebate

The new National Heat Pump Rebate is meant to help up to 820,000 households install electric heat pumps. Eligible below-median-income households can receive up to $10,000 toward the purchase of a heat pump.

Other eligible households will receive $2,000. The government said both amounts can be combined with ...