What Colorado pays for a smart thermostat
We read the Colorado Springs Utilities rules and Efficiency Works (Fort Collins) sheets on October 5, 2026. Xcel's amount comes from its 2026 rebate summary, last read September 29, 2026. One Xcel card covers Denver, Aurora and Boulder, since all three are Xcel areas.
Colorado Springs Utilities
ENERGY STAR certified, for electric and/or gas customers, never more than the thermostat cost before tax. Two rebates per address every three years.
Peak Energy Rewards (Colorado Springs)
$50 in the first year and a $25 rebate each year after a full cooling season, for electric customers whose thermostat controls a central air conditioner.
Efficiency Works (Fort Collins)
For a thermostat controlling central air or a heat pump. Up to $75 for baseboard thermostats if you buy at least two. Retail purchase, apply within 45 days.
Federal tax credit (25C)
Ended for spending after December 31, 2025.
Working it out
A $130 thermostat in Denver earns $50 from Xcel, so it costs $80 after the rebate. In Colorado Springs the same thermostat earns up to $50 and, if it runs a central air conditioner and you stay in the program, $50 in the first year, so you could be ahead after one summer. In Fort Collins the thermostat for central air earns up to $50. Two baseboard thermostats at $60 each could earn up to $75 per the retail sheet, though the retrofit sheet lists $35 per unit with a $70 limit per home, so confirm the figure before you buy.
What the thermostat must control
The rules are about what the thermostat is wired to. Efficiency Works pays up to $50 for a thermostat on a central air conditioner or heat pump and up to $75 for electric baseboard thermostats, if you buy at least two and they connect to Wi-Fi with an app. Colorado Springs Utilities' Peak Energy Rewards needs a thermostat that controls a central air conditioning unit, so a baseboard thermostat does not qualify for it. Xcel's summary says only that the thermostat must be ENERGY STAR rated. If you heat with a boiler or radiators, check the model's compatibility before you buy.
What the utility can ask
Colorado Springs Utilities explains the trade clearly. Between May and September, on weekdays between 1 and 9 p.m., it may call an event of up to four hours, with no more than 15 events in a cooling season. You get the $25 annual rebate only after full participation in at least one cooling event, so you cannot opt out of them all. Efficiency Works lists a separate Flex Thermostat program with incentives at enrollment and each year, but we did not read its amounts, so we state none.
Limits and deadlines
Colorado Springs Utilities allows two thermostat rebates per service address every three years, requires a retrofit (not new construction) and an electric and/or gas account. Efficiency Works asks for applications within 45 days of purchase, with proof of purchase and no used or refurbished units. For Xcel, check its page for the claim window.
When a smart thermostat is worth it
The rebate is small, and the thermostat is only useful if it fits your system and if you use its features. A thermostat that is easy to program, shows your usage and lets you set a schedule you will stick to is worth more than a rebate. We have not verified savings figures for Colorado, so we do not quote any. If you are planning a heat pump, ask the installer which thermostat they support, since some heat pumps come with their own controls.
How to claim a Colorado smart thermostat rebate
- Check your utility on your bill.
- Pick an ENERGY STAR certified thermostat that fits your heating and cooling system.
- Keep the receipt with the date, price and model number.
- In Fort Collins apply within 45 days. In Colorado Springs apply by January 31 of the next year.
- Enroll in Peak Energy Rewards in Colorado Springs if you have central air.
More for Colorado homes
- Colorado home rebates: every program in one place
- Xcel Energy Colorado rebates: amounts and rules
- Colorado heat pump water heater rebates: utility amounts side by side
- Denver home rebates: programs and installers
- Aurora home rebates: programs and installers
- Boulder home rebates: programs and installers
- Fort Collins home rebates: programs and installers
- Colorado Springs home rebates: programs and installers
Common questions
How much do Colorado utilities pay for a smart thermostat?
Xcel $50. Colorado Springs Utilities up to $50, plus Peak Energy Rewards of $50 the first year and $25 a year after. Fort Collins up to $50, or up to $75 for baseboard thermostats.
Does it have to be ENERGY STAR?
Yes, for all three utilities.
How many can I claim?
Colorado Springs allows two per address every three years. Fort Collins requires at least two baseboard thermostats for its $75 offer.
Can the utility change my temperature?
In Colorado Springs' Peak Energy Rewards, yes, during events of up to four hours on weekday afternoons from May to September.
Is there a federal credit?
Not for 2026. It ended for spending after December 31, 2025.
By Sam Menard. Sources, last read October 5, 2026: Xcel Energy 2026 rebate summary, Colorado Springs Utilities rebate rules, Efficiency Works retail products sheet, Efficiency Works home rebates.