Dialogue Summary: Financing and Funding Heat Pumps in Low-Rise Multi-Unit Residential Buildings
As we prepare for another season of extreme heat, the urgency to transition to heat pumps - an affordable, efficient, low carbon and reliable cooling solution for residents living in the most vulnerable buildings in BC - becomes paramount. One of the greatest barriers to transitioning to heat pumps in low-rise multi-unit residential buildings is financing and funding.
On February 6, 2025, Urban Climate Leadership in collaboration with the City of Vancouver and the Pacific Institute for Climate Solutions hosted a dialogue with over 50 leading private, public and nonprofit leaders to explore how to create the conditions to accelerate the installation of heat pumps. This report summarizes the short-term and long-term criteria for success and outlines viable options and recommendations for action.