Converting to heat pumps for heating and cooling in electrically heated homes and buildings can reduce both energy poverty and greenhouse gas emissions. Focusing on electrically heated homes is also a way for us to scale up this technology in a fully economic way.
Heat pumps can pay for themselves in three to ten years when replacing conventional electrical heating and cooling equipment.
The much greater efficiency of heat pumps also means we can reduce the need for gas-fired power, which means we all benefit from an effort to switch to heat pumps.
Given the climate and economic benefits this technology can deliver, it just makes sense for the Ontario government to support conversion to heat pumps by providing no down payment, zero-interest loans for the purchase of heat pumps.