2026 energy savings
Make your upgrade cost less
High-efficiency heat pumps can reduce energy use and monthly utility costs. Qualifying Denver-area homeowners may also be eligible for significant HVAC rebates that offset part of the installation cost.
Xcel Energy rebate information
Compare qualifying heat pump rebates
Xcel Energy offers rebates for qualifying air-source and cold-climate heat pump systems. Amounts are based on equipment efficiency and size, and eligible cold-climate systems may receive higher per-ton payouts when bonus incentives apply.
Air-source heat pump
Ducted, non-ducted or mixed
Efficiency minimums
- 15.2+ SEER2
- 11.7+ EER2
- 7.8+ HSPF2
Air-source heat pump
Ducted or mixed
Efficiency minimums
- 15.2+ SEER2
- 10+ EER2
- 8.1+ HSPF2
The unit must be listed on ashp.neep.org and its heating capacity at 5°F must be at least 70% of its heating BTU at 47°F.
Ductless mini split
Non-ducted heat pump
Efficiency minimums
- 16+ SEER2
- 9+ EER2
- 9.5+ HSPF2
- COP at 5°F ≥ 1.75
The unit must be listed on ashp.neep.org and its heating capacity at 5°F must be at least 70% of its rated capacity at 47°F.
Who may qualify
Customer and installation requirements
Colorado homeowners and residential landlords must be Xcel Energy electric and/or natural gas customers. Qualifying equipment must be installed by a participating Xcel rebate contractor.
Systems in multi-unit residential properties, including duplexes and four-plexes, may qualify. Rebates may be available for each qualifying new heat pump system installed.
Start with the right system
See which rebates fit your home
Rebate eligibility and final amounts depend on your home, current heating system and selected equipment. Let our local team review the options with you.