Xcel Energy
xcelenergy.com
$9,000
maximum
$2,250 per ton
You claim it after installPaid per ton
$2,250 per heating ton for cold-climate ducted or ductless (raised Nov 2025); a typical 3-4 ton system lands about $6,000-$9,000.
- Equipment that qualifies
- Cold-climate ducted or ductless air-source heat pump (ccASHP).
- Who qualifies, and the cap
- Xcel Colorado electric customers. Rate raised to $2,250 per heating ton Nov 2025. One HP rebate per system.
- Stacking
- Per-ton payout scales with system size; a typical 3-4 ton system lands about $6,000-$9,000.
Black Hills Energy
blackhillsenergy.com
You claim it after installFlat amount
Black Hills Energy Colorado electric prescriptive rebate: air-source heat pump $1,500 (>=15.2 SEER2 / 11.9 EER2 / 8.1 HSPF2); ductless mini-split $1,500 (>=15.2 SEER2 / 11.7 EER2 / 7.8 HSPF2). Downstream. Ready Home Electric is a separate whole-home path.
- Equipment that qualifies
- Air-source heat pump SEER2 15.2+/EER2 11.9/HSPF2 8.1; ductless mini-split same tier.
- Who qualifies, and the cap
- Black Hills Energy Colorado electric customers; installed 2026. One HP rebate per system.
- Stacking
- Air-source $1,500 OR ductless mini-split $1,500 (one path per system, not additive).
Holy Cross Energy
holycross.com
You claim it after installFlat amount
Holy Cross Energy co-op (western Colorado): heat pump rebate $3,500 for all members, $7,000 for income-qualified households. Downstream; 2026 rebate rules.
- Equipment that qualifies
- Qualifying air-source heat pump; confirm SEER2/HSPF2 tier with Holy Cross.
- Who qualifies, and the cap
- Holy Cross Energy members (Eagle, Pitkin, Garfield, Mesa counties). Per 2026 rebate rules.
- Stacking
- Income-qualified tier ($7,000) is the enhanced alternative, not additive with the $3,500 standard.
Income-qualified households: up to $7,000 on this program. Check the terms against your household size and area median income.
Colorado Springs Utilities
csu.org
You claim it after installFlat amount
Colorado Springs Utilities municipal: $1,500 electric bill credit for approved heat pumps under 3 tons, effective 1/1/2026. Downstream.
- Equipment that qualifies
- Heat pump under 3 tons; confirm SEER2 tier with CSU.
- Who qualifies, and the cap
- Colorado Springs Utilities electric customers. $1,500 for approved heat pumps under 3 tons; effective 1/1/2026.
- Stacking
- Bill-credit rebate; confirm additional CSU efficiency measures.
Tri-State (Electrify and Save member co-ops)
tristate.coop
You claim it after installVaries by measure
Tri-State Generation & Transmission co-op wholesaler: heat pump rebates of $675 to $5,500 delivered THROUGH its member distribution co-ops via the Electrify and Save program (10,000+ electrification/efficiency rebates issued; 1,864 rebates in 2025, +46% YoY). Tri-State serves 15 distribution co-ops across Colorado (e.g., San Isabel, Mountain Parks, Sangre de Cristo, Y-W, Highline). The exact amount is set by your local member co-op; confirm with them. On-bill repayment up to 10 years available.
- Equipment that qualifies
- Qualifying air-source heat pump; efficiency tier set by the member co-op. Confirm SEER2/HSPF2 with your co-op.
- Who qualifies, and the cap
- Members of Tri-State's distribution co-ops. Tri-State serves 15 distribution co-ops across Colorado (e.g., San Isabel, Mountain Parks, Sangre de Cristo, Y-W, Highline). Rebate amount varies by member co-op ($675-$5,500 program range); confirm current terms with your local co-op before quoting.
- Stacking
- Electrify and Save also covers HPWH, insulation/air sealing, panel upgrades, thermostats and EV charging as separate measures; on-bill repayment is an alternative to an upfront rebate.