What Is CAPEX — And Why It Matters More Than Ever in 2026 CAPEX (Capital Expenditure) refers to investing in long-term assets that increase value or reduce operating expenses over time. With hydro rates rising across Ontario, energy uncertainty growing, and incentives becoming more competitive, 2026 is shaping up to be the biggest year yet for energy-efficiency CAPEX planning. Businesses are no longer asking “Should we upgrade?”They’re asking “How fast can we reduce our opera