Heat pumps are an energy efficient, all-electric alternative to traditional furnaces and ACs that can heat and cool your home. Instead of generating heat, in winter they move heat from the air outside into your home and can also cool your home in the summer months. That sounds almost like magic, but it’s actually just physics.
Heat pumps are costly, but there are substantial rebates and programs available.
- Xcel is currently offering a temporary rebate of $15,000 that covers the Lowry area. Xcel’s normal rebate is typically in the range of $5,000 – $8,000 depending on the size of your system ($1,500 per heating ton). Learn more about Xcel’s program here.
- Colorado offers a $1,000 tax credit.
- Power Ahead Colorado (administered by DRCOG) offers a $1,500 rebate.
- Denver is partnering with Switch Together on a group buying program.
All these programs require a certified contractor to install the heat pump and the contractors even handle all the rebates for the homeowner. Not all HVAC contractors are certified to install heat pumps.