The Scottish Government's Infrastructure Secretary Alex Neil said the cash would fund bill-reduction initiatives and help households cut their carbon emissions.
The investment will be delivered over the next ten years in a national programme that will transform aging houses, as outlined in the Sustainable Housing Strategy, a blueprint for reduced heating costs and improved efficiency in homes across Scotland.
It is linked to the consultation on the Energy Efficiency Standard for Social Housing which proposes setting a minimum energy efficiency rating to be met by social landlords.
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A spokesman said that more than one in four Scottish households suffer from fuel poverty, as more than 500,000 homes still requiring cavity wall insulation and more than 600,000 homes have solid walls.
Launching the consultations in Glasgow after visiting Cube Housing Association's new Energy Centre delivering heat to housing in the Wyndford estate in Maryhill, Mr Neil said: "These strategies provide a great opportunity for Scottish businesses and can provide a real boost to our economy. New technologies, which would bring down carbon emissions as well as household fuel bills, are key to energy efficient homes and a vital element in economic recovery. The drive to transform new-build through innovative design and construction approaches creates economic and export opportunities for Scottish companies, along with an opportunity to make greater use of Scottish timber in innovative products."
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