Toronto, ON — Homeowners looking to replace their aging furnaces with an electric heat pump within Toronto can receive some financial support through the Furnace Upgrade Program, also known as the BetterHomes TO initiative.
“We’re making it easier for residents to heat and cool their homes with heat pumps, which means smart upgrades that can lower energy bills each month and have less environmental impact,” shares Olivia Chow, mayor of Toronto. “I encourage homeowners to take full advantage of saving money on heating and cooling, and reduce emissions, when it’s time to replace your furnace.”
New upgrades to the program to come in 2026 will further expand to include heat pump installation services and targeted incentives for low-to-moderate income households.
In partnership with Toronto Hydro, Toronto residents can access free energy coaching services to help them navigate what programs, services, and offers are available to them, according to the city. This includes grants provided by other levels of government.
In addition, there are also low-interest loan options available, including the Home Energy Loan Program (HELP).
“Toronto Hydro is proud to support the City’s efforts to accelerate access to cleaner, electric home heating and cooling technologies,” states Jana Moslley, president and CEO of Toronto Hydro. “By offering energy coaching and connecting residents with qualified local contractors, we are helping homeowners make informed, confident choices as they work to lower emissions and improve year-round comfort.”