The rebates offered in Denver for heat pumps range from $1,500 to $3,500, depending on the kind of heat pump. The rebate is now open for applicants until all of the money is used. ColetteBordelon explains how it works.
Denver Climate Action Rebates opened on January 9, and aims to make homes more energy efficient while trying to reduce monthly energy bills. Heat pumps were the most popular category last year, according to those with the city and county of Denver, and they expect even more interest in the technology this year.
Those with the Office of Climate Action, Sustainability and Resiliency said $3.5 million has been allocated for this year and next year specifically for heat pump technologies. "Because there's so much funding coming out from the federal government to support this technology, we think that even more households will be aware of it and therefore interested in replacing their aging equipment or their equipment that has failed completely with this new technology," Rink said.“Most homes in Denver are heated with natural gas, and the natural gas prices are what people are experiencing right now, which are really up close to 75% over last year," said Rink.
Denver ready to help residents install heat pumps through rebate program Esposito said their household ended up paying $13,000 total for the heat pump to be installed. However, without a $7,000 rebate from the City and County of Denver, along with an $800 rebate from Xcel Energy, they would have paid around $21,000.
Rink said in order to be eligible for the rebate, homeowners must use contractors who have been approved first by Xcel Energy.
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