Every amount links to the official program. Last checked September 29, 2026.
Short answer: Xcel Energy pays $750 per heating ton for a cold-climate heat pump, $500 for a mini-split, $750 for a heat pump water heater and $50 for a smart thermostat, plus up to $500 for a home EV charger. Homes heated with Xcel natural gas get bonuses that double most heat pump amounts from October 1, 2026. Installs must be invoiced by December 31, 2026, and funding is first come, first served.
| Upgrade | Amount | Rules |
|---|---|---|
| Cold-climate air source heat pump (ducted) | $750 per heating ton at 5°F; $1,500 with gas bonus | 15.2 SEER2, 10 EER2, 8.1 HSPF2 and strong output at 5°F. Xcel participating contractor. Source |
| Air source heat pump (ducted) | $300 per cooling ton; $600 with gas bonus | 15.2 SEER2, 11.7 EER2, 7.8 HSPF2. Source |
| Mini-split (non-ducted) heat pump | $500 | Standard or cold-climate models. You can install it yourself and still qualify. Source |
| Ground source heat pump | $1,100 per heating ton; $2,200 with gas bonus | 16 EER2, 3.3 COP, closed loop. Source |
| Heat pump water heater | $750; $1,500 with gas bonus | ENERGY STAR, 3.3 UEF. Source |
| Smart thermostat | $50; or $100 credit plus $25 a year in AC Rewards | ENERGY STAR rated. Electric customers can enroll in AC Rewards. Source |
| Attic, wall insulation and air sealing | 30% of cost, up to $500 attic, $350 wall, $400 air sealing | Xcel gas or electric heat. Gas customers get 1.5 times the standard rebate. Source |
| Home energy audit | $100, $160 or $200 | Standard, blower door or infrared audit; 60% of the cost, up to those amounts. Source |
| Home EV charger and wiring | Up to $500; up to $2,300 income-qualified | Enroll in Optimize Your Charge. Up to $800 in a disproportionately impacted community. First come, first served. Source |
Amounts last checked September 29, 2026 against each program's official page (linked in each row).
See the exact rebates for your city on the CO rebates page, then compare top-rated installers by city, ranked by Google reviews. No one pays to be listed.
For a cold-climate ducted heat pump, $750 per heating ton at 5°F, or $1,500 per ton with the gas bonus. Mini-splits get $500. Amounts are on Xcel's 2026 rebate sheet.
Homes heated with natural gas from Xcel Energy. Homes with electric heat, such as baseboards, get the standard rebate only, because bonuses ended for them on November 16, 2025.
Installs must be invoiced by December 31, 2026, and Xcel accepts applications through September 30, 2027. Funding is limited.
No. The federal 25C credit ended for installs after December 31, 2025. Xcel's rebates are the main incentive now.
Related: 2026 tax credits · Denver rebates · Insulation rebates by region
Other program guides: BC Hydro rebates · CleanBC rebates · Home Renovation Savings · NYS Clean Heat · Mass Save · Efficiency Nova Scotia rebates · BC Hydro Peak Saver · Alberta energy rebates · Federal tax credits · PECO rebates · PPL Electric rebates
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