Heat pump cost in Toronto after rebates (2026)
Last verified October 19, 2026 against official program pages. How we check
As of October 19, 2026, a cold-climate air-source heat pump typically costs $14,000 to $22,000 installed in Toronto, and the rebates open today bring that to about $12,500 to $20,500 if your home is heated by natural gas.
If your home is heated by electricity, oil, propane or wood, it’s about $10,250 to $18,250.
Every program here is listed on Ontario home energy rebates, and the heat pump ones on heat pump rebates in Ontario. The biggest typical amount comes from Home Renovation Savings Program. How programs combine is in our stacking guide.
Worked example, TorontoIf your home is heated by natural gas
Central ducted air-source heat pump, installed (Toronto)
- Typical installed cost
- $14,000–$22,000*
- Your rebates open todaytypical 3-ton system
- − $1,500
- You’d pay about
- $12,500–$20,500
- + $2,000 more if the National Heat Pump Rebate opens before you install. Not counted above.
*Typical range from Toronto Hydro (Toronto Hydro estimate at 2023 prices, before taxes; ductwork and electrical service upgrades are extra; checked October 17, 2026), not a quote. Program administrators decide eligibility. Your installer’s quote decides the cost.
What you’d pay in Toronto, worked out
Typical cost minus the typical rebate from programs open today. Program maximums, loans and city-only programs are not subtracted. Some don’t need an energy assessment: see heat pump rebates without an assessment.
| Home | Typical cost | Rebates open today | You’d pay about |
|---|---|---|---|
| Heat pump, heated by natural gasHome Renovation Savings Program | $14,000–$22,000 | − $1,500 | $12,500–$20,500 |
| Heat pump, heated by electricity, oil, propane or woodHome Renovation Savings Program | $14,000–$22,000 | − $3,750 | $10,250–$18,250 |
Cost: Toronto Hydro, published 2023, checked October 17, 2026. Toronto Hydro estimate at 2023 prices, before taxes; ductwork and electrical service upgrades are extra. Typical, not a quote. Rebates: program pages, last verified October 19, 2026.
Enter your quote
See what you’d pay in Toronto after the typical rebates open today.
Typical rebates open todayHome Renovation Savings Program− $1,500
You’d pay aboutEnter a quote
+ $2,000 more if the National Heat Pump Rebate opens before you install. Not counted above.
Program administrators decide eligibility. Some programs cap a rebate at a share of the cost, so a small job can get less. See every program for your home
Key facts
- Typical installed cost
- $14,000–$22,000. Source: Toronto Hydro, published 2023, checked October 17, 2026. Toronto Hydro estimate at 2023 prices, before taxes; ductwork and electrical service upgrades are extra. Typical, not a quote.
- Typical rebates, gas-heated home
- $1,500 from Home Renovation Savings Program, for a typical 3-ton system.
- Typical rebates, other heating fuels
- $3,750 from Home Renovation Savings Program, for a typical 3-ton system.
- Announced, not open
- National Heat Pump Rebate: $2,000 more if it opens before you install. Not counted above.
- Last verified
- October 19, 2026. Program administrators decide eligibility. Your installer’s quote decides the cost.
Programs that pay for a heat pump in Toronto
- Last verified October 12, 2026OpenProvincialOntario
Home Renovation Savings Program
Ontario's main home-retrofit rebate program. You can claim single upgrades such as a heat pump, attic insulation, solar with a battery, a smart thermostat or ENERGY STAR appliances without an energy assessment, or do an assessment and two or more upgrades for envelope rebates.
$12,000
max rebate
Rebate - Last verified October 12, 2026UpcomingFederalCanada-wide
National Heat Pump Rebate
A new federal rebate announced on October 8, 2026 that will pay $2,000 toward an eligible cold-climate air-source heat pump, or up to $10,000 for households below the median income. Applications are not open yet.
$2,000
max rebate
Up to $10,000 if income-qualified
Rebate - Last verified October 12, 2026OpenFederalCanada-wide
Canada Greener Homes Affordability Program
Federally funded, no-cost home energy upgrades for low- and median-income homeowners and tenants. You apply through your province's or utility's partner program, not through Ottawa.
Free
Free upgrade - Last verified October 12, 2026OpenProvincialOntario
Energy Affordability Program
Income-qualified Ontario electricity customers can get free energy upgrades. These range from free saving kits to a full home visit that can include new appliances, insulation, draft-proofing and, for electric or oil-heated homes, a cold-climate heat pump.
Free
Free upgrade - Last verified October 12, 2026OpenMunicipalToronto
Home Energy Loan Program
Toronto homeowners can borrow up to $125,000 at a fixed low rate for energy upgrades and repay it on the property tax bill over up to 20 years. Heat pump-only and solar-only projects no longer need an EnerGuide assessment.
$125,000
max loan
Loan - Last verified October 17, 2026OpenMunicipalToronto
BetterHomesTO Furnace Upgrade Program
Free virtual energy coaching from Toronto Hydro for Toronto residents thinking about replacing a furnace with a heat pump, with help finding rebates, financing and contractors.
Free
Free upgrade
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