Read the rebate section of a quote before you look at the total. Quotes written in September can still carry the old Xcel bonus.
What each rebate line should show
- The program's name. "Xcel cold-climate heat pump rebate" or "State of Colorado Heat Pump Discount." A line that only says "utility rebate" can't be checked.
- The model numbers. Xcel pays per ton of heating at 5°F, so the quote should list the outdoor and indoor models. Then anyone can check the tonnage against the AHRI listing.
- Whether it comes off the price. A rebate taken off the contract lowers what you pay. "Eligible for up to" means you pay the full price and wait for a check.
- The state discount on its own line. The installer claims the Colorado credit and can keep up to two-thirds of it. Your share has to appear as a separate line with the state's name on it.
- Who pays if a rebate is turned down. Ask whether your price goes up. Ours doesn't. If we quoted a rebate and the program rejects it, we cover it.
Quotes written before October 1
Xcel paid the old bonus only on systems installed and invoiced before October 1, 2026. Anything later gets the current amount, $1,500 per heating ton for a cold-climate heat pump on Xcel gas heat, whatever the quote says. A quote that still shows $2,250 per ton is out of date. Ask for the rebate line to be redone and compare it with the current Xcel amounts.
On a ductless quote, the bonus applies only when the heads heat at least half the house. A single head for one room gets a smaller flat rebate.
If you already have a quote
Send us a photo of it with photos of your furnace and outdoor unit. We'll price the same job with each rebate on its own line. You can also start with the rebate finder.
Common questions
Can I file the Xcel rebate myself?
No. Xcel takes heat pump applications from the installing contractor. A contractor who files for you can also take the rebate off the price before you sign.
My quote says 'eligible for up to' a rebate. What does that mean?
You pay the full price and wait for a check that may come in lower. Ask for the rebate as a line taken off the price, with the program's name, and ask who pays if the application is rejected.