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Heat Pump Rebates

Heat Pump Rebates

Xcel Energy residential electric customers may be able to take advantage of an instant rebate on a new heat pump.

Heat Pump Rebate Details

Even if your current heat pump is only 10 years old, you could save 20-40% of your cooling energy costs by replacing it with a newer, more efficient model.

Regardless of the type of heat pump you choose, make sure your contractor is committed to quality Installation. Quality Installation helps ensure your new heat pump system is properly installed and helps make your heat pump more efficient, extends the life of the system, can lower your electric bill and increase your home’s comfort.

Heat Pump Rebate Eligibility

To qualify for a rebate on a heat pump, you must:

  • Be a residential electric and/or natural gas customer of Xcel Energy in Colorado

  • Equipment must be installed by a current participating contractor 

Rental Property Rebate Eligibility

Rental properties are eligible for rebates. If you are the homeowner/landlord and not listed on the account for your tenant’s premise, or unsure, please have your tenant complete the Alternate Rebate Recipient section of the rebate application and authorize payment to you. Or call 800-895-4999 to update the ownership information for the rental property. 

If you are a landlord looking to upgrade multiple properties, please contact us as we may be able to simplify your experience. 

Heat Pump Rebate Process

  • Your participating contractor will provide you with an application form with the majority completed.

  • If you have more than one qualifying new heat pump system, you may receive rebates for each system.

  • For Contractors: Upon purchase and installation of heat pump, submit your rebate through the digital application.      

How to Get Equipment Rebates

The Air Conditioning, Heating & Refrigeration Institute is a neutral “third-party” proof source of the efficiency of heat pump systems. Rebates can only be processed if the new heat pump system has an AHRI certificate. Your contractor is aware of this if they are a participating contractor. 

The outdoor and indoor components of a split system must be matched to qualify. 

Bonus Rebate

The insulation and air sealing $600 bonus rebate is available to customers who install Xcel Energy rebate-qualifying insulation and air sealing measures before the installation of a Xcel Energy rebate-qualifying space-heating heat pump within 2 years of each other, based on invoice dates.

If AHRI lists SEER ratings only, SEER ratings are used. If AHRI lists both SEER and SEER2 ratings, SEER2 ratings are used.

SEER = Seasonal Energy Efficiency Ratio 

EER = Energy Efficiency Ratio 

HSPF = Heating Seasonal Performance Factor

 

Additional Information

Xcel Energy Registered Contractors