As evidence grows about the impacts of fuel-burning on climate change, more multi-unit property owners are turning to innovative energy conservation measures like fuel switching.

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.