Fix First Home › Colorado › Xcel Energy heat pump rebates in Colorado
Xcel Energy heat pump rebates in Colorado open
Administered by Xcel Energy (Public Service Company of Colorado).
From 1 October 2026 Xcel Energy pays $1,500 per heating ton for a cold-climate heat pump in Colorado homes heated with Xcel natural gas, and the standard $750 per ton to homes with electric heat; ground-source systems get $2,200 or $1,100 per ton and heat pump water heaters $1,500 or $750. Rebates come by check or off the contractor's invoice.
source · verified 3 October 2026 · amounts in US dollars
What it pays
| Upgrade | Condition | Amount |
|---|---|---|
| Cold-climate air-source heat pump, ducted or mixed | Bonus rate, Xcel gas-heated homes | $1,500 a heating ton |
| Cold-climate air-source heat pump, ducted or mixed | Standard rate | $750 a heating ton |
| Air-source heat pump, ducted or mixed | Bonus / standard, per cooling ton | $600 / $300 |
| Ground-source heat pump | Bonus / standard, per heating ton | $2,200 / $1,100 |
| Air-to-water heat pump | Bonus / standard, per heating ton | $1,900 / $950 |
| Heat pump water heater | 3.3 UEF; bonus / standard | $750–$1,500 |
| Mini-split for supplemental use | Garages, additions, single rooms; not reducing gas use | $500 |
Mini-splits heating at least half the home earn the same per-ton rates as ducted systems. Base rebates plus bonus cannot exceed the invoiced cost, and the invoice must be dated in 2026 for the bonus.
Who is eligible
- who
- Xcel Energy residential electric and/or natural gas customers in Colorado.
- the bonus
- For homes heated with Xcel natural gas; since 16 November 2025 customers with existing electric heating get the standard rebate only.
- dates
- Invoices and installations must be completed by 31 December 2026; applications are accepted through 30 September 2027.
- installer
- A Trade Partner Network contractor, or yourself for some mini-splits.
- lower incomes
- Income-qualified customers may get rebates and services covering up to the full cost of a heat pump and its installation.
What disqualifies you
The rules people find out about after the work is done.
- Xcel gas-only customers whose electric heating comes from another utility.
- The bonus, for homes already heated with electric resistance, such as baseboards.
Where the application goes
Your contractor applies for you, or you apply online for a do-it-yourself mini-split.
| If this is you | Apply here |
|---|---|
| Heat pump rebates | co.my.xcelenergy.com |
| 2026 rebate summary | xcelnew.my.salesforce.com |
| Phone | 800-895-4999 |
The thing most pages get wrong
A rebate guide updated in September 2026 says Xcel customers replacing gas heat 'can earn up to $2,250 per heating ton for cold-climate systems (ground-source earns up to $3,300 per ton)'. Xcel's rebate summary effective 1 October 2026 pays $1,500 per heating ton with the bonus, and $2,200 for ground-source.
Electric-heated homes get the standard rate
Since 16 November 2025 Xcel's bonus is not available to customers whose existing heat is electric, such as baseboards. They still get the standard rebate, the right-hand column on Xcel's sheet.
A $600 bonus for doing insulation first
Xcel adds $600 for customers who install rebated insulation and air sealing before a rebated space-heating heat pump, within two years of each other by invoice date.