Heat Pumps
How the Xcel Heat Pump Rebate Works in Colorado: Who Qualifies, and When the Money Actually Arrives
Who qualifies, how Xcel calculates Colorado heat pump rebates, and when the rebate payment arrives.
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Xcel Energy Heat Pump Rebates & Calculator in Denver, CO
Ducted or ductless, find out what Xcel pays you back
Serving Denver, Aurora, Centennial, Littleton, Highlands Ranch, and Communities Across the Denver Metro
- Estimate in four questions
- Rebate application help
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Estimate Your Xcel Energy Heat Pump Rebate
How much could the Xcel Energy rebate pay back on a new heat pump or ductless mini-split? Answer four quick questions below for an estimate based on Xcel Energy's 2026 Colorado rebate rates.
Havana Solutions then confirms the exact figure at your home visit, based on the system we recommend for your house.
Xcel Energy Heat Pump Rebates Explained for Denver Homeowners
What is a heat pump rebate?
A heat pump rebate is money paid back to you after a qualifying heat pump is installed in your home. It is a reimbursement, not a discount taken off your invoice. You pay for the installation, the program checks the work, and then the rebate is paid to you.
What is the Xcel Energy heat pump rebate?
The Xcel Energy heat pump rebate is the utility's program for Colorado customers who install a qualifying heat pump. Most of these rebates are paid per ton, a measure of how much heating or cooling a system delivers. A larger system earns more.
How does the rebate help you?
The rebate lowers what a new heat pump costs you once Xcel pays it. Xcel pays the highest rate for cold-climate heat pumps, the models rated to keep heating at 5°F. That makes the equipment best suited to a Colorado winter easier to afford. Homes heated with Xcel natural gas today earn the most, with a bonus rate double the standard rate.
Which Heat Pumps Qualify for the Xcel Rebate in Denver
Ducted and ductless heat pumps both qualify for the Xcel Energy rebate. The equipment has to meet Xcel's standard for its type. Three things set your rate: the heat pump type, how it heats your home and your current heating fuel. The table shows Xcel's 2026 Colorado rates for each combination.
| Heat pump | What it has to meet | You heat with Xcel natural gas today | You heat with electricity today |
|---|---|---|---|
| Standard heat pump: a ducted system, or ductless heating at least half the home | Xcel's efficiency standard, installed by a participating contractor | $600 per cooling ton | $300 per cooling ton |
| Cold-climate heat pump: a ducted system, or ductless heating at least half the home | Xcel's cold-climate standard at 5°F, installed by a participating contractor | $1,500 per heating ton at 5°F | $750 per heating ton at 5°F |
| Ductless mini-split for one room, an addition or a garage | Adds heat to one space without replacing your main heating | $500 flat | $500 flat |
The rebate follows the equipment's rating, not its brand. A cold-climate rebate is figured on the heat the unit delivers at 5°F, which is lower than its nominal size. For that reason, the calculator shows a cold-climate estimate as a range. The exact model you choose sets the final figure, and we confirm it at your estimate. To compare systems for your home, see Heat Pump Installation & Replacement.
When the Xcel Heat Pump Rebate Applies in Denver
The Xcel Energy rebate comes with conditions, and knowing them up front avoids a surprise after installation. We go through each one with you at the estimate.
The rebate applies when:
- You are an Xcel Energy customer at the home and share your Xcel Energy account number.
- A participating Xcel contractor installs the heat pump. The $500 mini-split for one room, an addition or a garage is the only exception.
- The heat pump meets Xcel's standard for its type. A ductless system on the per-ton rate is sized and placed to heat at least half the home.
- Both parts of the application are filed, and Xcel approves the installation after its inspection.
The rebate does not apply when:
- Xcel Energy provides only your gas, and your home heats with electricity from another utility.
- The work is a repair to an existing heat pump rather than a new qualifying installation.
- The equipment falls short of Xcel's standard for its type.
- The program funding runs out. Xcel Energy can also change its rates at any time.
The bonus rate has two conditions. Your home heats with Xcel natural gas today, and the installation is invoiced in 2026. Homes heated with electricity, such as baseboard heat or an electric furnace, receive the standard rate. Either way, the rebate cannot be more than the invoiced cost of the project.
Xcel Heat Pump Rebate Application Help in Denver
The Xcel Energy rebate application has two parts: one filed by the contractor and one filed by the homeowner. Havana Solutions is registered with Xcel Energy as a participating heat pump contractor. We submit our part and walk you through yours, so your application goes in complete.
Confirm your rebate at the home visit
Have your Xcel Energy account number ready when we visit. We look at how your home is heated now, size the new system and confirm which heat pumps qualify. You get each option in writing, with its price and its expected rebate. We order equipment only after you pick your option.
We install your heat pump and file our part
We install the qualifying heat pump you chose and check that it runs correctly. Once the system is running, we submit the contractor portion of the rebate application to Xcel. We handle the contractor side of the paperwork from start to finish.
You file your part, then Xcel Energy pays you
You file the homeowner portion with Xcel Energy, and we walk you through it. Nothing is missed or left half done. Xcel then inspects the installed heat pump. Once the installation is approved, Xcel pays the rebate directly to you, the homeowner.
Combine Your Xcel Rebate With Heat Pump Financing
The Xcel Energy rebate and FTL financing work on the same heat pump installation. Financing spreads the cost of the installation into payments. The rebate then lowers your final cost once Xcel approves the installation and pays it.
Financing through FTL Finance. We prepare the financing proposal for your heat pump and send you the application. You complete the short application directly with FTL Finance, which runs the credit check. Ask about financing when you book your visit.
Xcel Heat Pump Rebate FAQs
01How much is the Xcel Energy heat pump rebate in 2026?
It depends on the heat pump and how you heat your home today. For homes heated with Xcel Energy natural gas, a standard heat pump earns $600 per cooling ton. A cold-climate heat pump in the same home earns $1,500 per heating ton at 5°F. Homes heated with electricity receive half those rates.
02Does the Xcel Energy rebate come off my invoice?
No. The Xcel Energy heat pump rebate is a reimbursement. You pay for the installation, Xcel Energy inspects the heat pump, and then Xcel Energy pays the rebate to you.
03Do I need a registered contractor to get the Xcel rebate?
Yes, for almost every heat pump. Any ducted heat pump has to be installed by a participating Xcel Energy contractor. The same rule covers any ductless system that heats at least half the home. Without one, those systems earn no rebate. Havana Solutions is registered with Xcel Energy for heat pump rebate work.
04How much is the rebate for a ductless mini-split?
It depends on how the mini-split heats your home. A ductless system sized to heat at least half the home earns the per-ton rate of a ducted heat pump. A mini-split for one room, an addition or a garage earns a flat $500.
05How accurate is the heat pump rebate calculator?
The rebate calculator uses Xcel Energy's 2026 Colorado rates, so it gives a close estimate for the system you pick. The final amount depends on the exact model installed and Xcel's approval. We confirm the figure at your home visit, before you commit to a system.
06Do you help with the Xcel rebate application?
Yes. Our HVAC team submits the contractor portion and helps you complete the homeowner portion with Xcel Energy. You have someone to call if a step in the form is unclear.
07Can I finance a heat pump and still get the Xcel rebate?
Yes. FTL financing and the Xcel Energy rebate both apply to the same heat pump installation. We prepare the financing proposal, and you apply directly with FTL Finance.
Xcel Rebate and Heat Pump Guides
Short reads on Xcel Energy rebates, cold-climate heat pumps and choosing a system for your home.
Ready to Confirm Your Xcel Heat Pump Rebate?
Get a starting figure online, then the exact number for your home.
Run the rebate calculator on this page, then call with your Xcel Energy account number handy. We will look at your home, explain your heat pump options and show the rebate on each one in writing. You decide with the real figure in front of you.
- Xcel registered contractor
- 2026 Colorado rates
- Contractor portion filed by us
- 5.0 from 50 Google reviews