Xcel Energy Rebates in Colorado 2026
Xcel Energy (Public Service Company of Colorado) prices its cold-climate heat-pump rebate per ton: $2,250 per ton, or about $4,500 to $9,000 for a typical 2-to-4-ton system. It also pays a flat $2,250 for a heat pump water heater, plus incentives for thermostats, weatherization, and EV chargers. These stack with Colorado's $1,000 state heat-pump tax credit, and with the federal HEAR rebate where it is open. The calculator below shows your exact number by address.
What Xcel actually pays for a heat pump
Xcel's rebate is priced per ton of capacity, not as a flat amount. A cold-climate heat pump earns $2,250 per ton, so a typical 2-to-4-ton system is about $4,500 to $9,000. Standard-efficiency heat pumps are rebated at $900 per ton. A heat pump water heater earns a flat $2,250. These are utility demand-side management rebates, available to Xcel residential customers regardless of income.
Stacking with HEAR -- and where HEAR is open
The federal HEAR rebate (up to $8,000 for a heat pump) stacks with your Xcel rebate, but only where HEAR is accepting applications. Colorado runs HEAR by region: the Front Range (Region 1), where most Xcel customers live, closed to new applications on April 28, 2026 with no reopening announced, while the mountain and Western Slope counties (Region 2) remain open.
So the honest stack depends on where you are and on your system size, since the Xcel rebate is per ton. An Xcel customer in an open Region 2 county who qualifies for HEAR can combine Xcel's per-ton rebate, the $8,000 HEAR rebate, and the $1,000 state credit -- roughly $13,500 to $18,000 for a 2-to-4-ton system. On the Front Range, where HEAR is closed, the dependable stack is Xcel's per-ton rebate plus the $1,000 state credit -- roughly $5,500 to $10,000. We do not put closed-program money in the headline.
How to find your exact Xcel rebate
Start with the calculator below. It confirms whether Xcel serves your address, checks your region's HEAR status, sizes the per-ton rebate to your system, and shows every program that is open for you with specific dollar amounts, using real 2026 program data from Rewiring America. Xcel's annual rebate budgets are finite and popular categories can reach their caps, so it is worth confirming your eligibility early -- but only against programs that are actually open.
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Frequently Asked Questions
What heat-pump rebate does Xcel Energy offer in Colorado?
Xcel's cold-climate heat-pump rebate is priced per ton: $2,250 per ton, which is about $4,500 to $9,000 for a typical 2-to-4-ton system. Standard-efficiency heat pumps are $900 per ton. Xcel also pays a flat $2,250 for a qualifying heat pump water heater, plus incentives for thermostats, weatherization, and EV chargers. The calculator sizes the per-ton rebate to your system.
Can I stack Xcel rebates with the federal HEAR rebate?
Yes, where HEAR is open. The federal HEAR rebate is run by region in Colorado: it is closed on the Front Range (Region 1) -- where most Xcel customers live -- with no reopening announced, and it is open in the mountain and Western Slope counties (Region 2). Colorado's $1,000 state heat-pump tax credit stacks with your Xcel rebate regardless of region. The calculator checks your ZIP's HEAR status so you only count money that is actually open for you.
How do I know if I'm an Xcel Energy customer?
Xcel Energy (Public Service Company of Colorado) serves most of the Denver metro and the Front Range from Fort Collins to Pueblo, plus some Western Slope areas such as Grand Junction. If you receive an Xcel bill for electricity or gas, you are a customer. Some cities on the Front Range run their own municipal electric utility, so the calculator confirms your provider from your ZIP rather than assuming.
Are Xcel Energy rebates income-based?
No. Xcel's standard rebates are available to all residential customers regardless of income. The income-targeted program is the separate federal HEAR rebate (up to 150% of Area Median Income), which is also regionally gated. Lower-income households in a region where HEAR is open can stack both; everyone can stack the Xcel rebate with the state tax credit.