2024 Heat Pump Rebates for Colorado Residents
2024 Heat Pump Rebates in Colorado
What changed for Colorado heat pump buyers in 2024, and how state and utility incentives fit together.
What Changed in 2024
The 2024 season brought several changes to the heat pump market in Colorado. Sales tax now applies to heat pump materials, where in 2023 heat pumps were exempt from state sales tax.
Incentives still exist at the state and utility level, but the amounts and the way they are delivered differ. The figures below reflect the programs as they stood when this article was written in 2024. Program rules and amounts change, so check current program terms before planning a project.
For help reviewing incentives for a specific installation, contact BBCOND.
To schedule service or request a quote, call 303-219-1000 or send us a message.
Key Points
- State sales tax: In 2024, heat pump materials became subject to state sales tax.
- State rebate: State rebates were capped at $1,500 and provided through the contractor, so fewer installers may offer them.
- Xcel Energy rebate: Xcel Energy offered $2,200 per condenser at the time, with no stated limit on the number of condensers.
- Multiple single-zone systems: Installing several single-zone systems can increase the total utility rebate.
An Example From 2024
One BBCOND customer received $12,000 back from Xcel Energy by installing multiple single-zone Daikin systems rated to operate at -13°F outdoors with efficiency ratings up to 27 SEER. Results depend on the equipment, the home and the program terms in effect at the time.
Exceptionally polite and professional service - fast same day repair got me up and running quickly and efficiently.
Joe's crew always take care of my issues quickly with expertise. I appreciate that they help with kindness and sympathy toward the homeowner; no condescension! They have helped me through issues dealing with a 5-year-old Fujitsu mini-split installation by another HVAC contractor who did not stand behind his work.
BB-COND was great. Responsive and reasonably priced. I received an estimate within a day or two and my new PTAC unit was installed without an issues. Would definitely recommend them!
We’re a women-owned small business with 7 split units on-site. When one of them stopped working this summer we got a quick response from BBCOND (none of the other ac repair companies I reached out to even responded) and it was fixed within the week. They even showed me how to reset and clean the rooftop units so I can do basic maintenance myself. A few weeks later they fixed a dripping unit and a week after that we had them come back to do a thorough clean of all the units. These guys are prompt, efficient, friendly and the full clean ended up costing less than they initially quoted. Highly recommend!
Our expertise
Frequently asked questions
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What did a single-zone Daikin system cost in Denver?
In 2024, typical single-zone Daikin installations ran about $5,000 to $7,500, depending on BTU size and the electrical work needed at the outdoor unit. An on-site estimate gives current pricing.
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How many single-zone systems can be installed?
It depends on the electrical panel and whether it has room for additional 220V breakers.
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Are these rebate amounts still available?
Amounts and rules change. Check current program terms with the state and Xcel Energy before relying on any figure.
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