A Colorado homeowner took to Reddit to share their excitement at securing over $15,000 in rebates for a new heat pump installation.
The post in the r/heatpumps community shows how stacking up federal, state, utility, and local incentives can slash your HVAC upgrade costs.
The original poster shared their experience installing their Bosch IDS Ultra heat pump, which the installer quoted would cost $24,000 for the project. But multiple rebate programs brought down the final price in dramatic fashion.
"Xcel Energy is giving me $10.3k. Colorado is giving me $1500. My city is going to give me $4k," they noted in the post. "All in, under $9k. I hope I get the paperwork correct."
Heating your home accounts for a huge part of your energy bills, often consuming 40 to 50% of annual household energy costs. Heat pumps outperform traditional HVAC systems in energy efficiency, delivering both heating and cooling power.
TCD's HVAC Explorer connects you with trusted brands to make it a cinch to find the right heat pump option for every home — including cost-effective mini-split systems that deliver financial benefits through incentives and long-term savings.
However, many tax credits for home appliance upgrades will expire at the end of the year. Federal appliance rebates still exist, however, including those for heat pumps. Moving now could save you thousands of dollars.
Other Reddit users shared similar savings across different states. One Massachusetts resident paid $14,000 after rebates for a ductless Mitsubishi Hyper-Heat system with five heads and one compressor, financed through a 0%, seven-year state loan that required nothing out of pocket.
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Another commenter replaced a gas furnace with a heat pump back in the fall of 2023, swapped a gas water heater for a heat pump water heater the next year, and rounded it out with solar panels and a power wall this year. "Each had thousands of dollars with Denver and Xcel rebates, and state and federal tax credits," they wrote.
Finding the right installer can feel complex, but great tools are out there to help you find the right system at a good price. Our HVAC Explorer can help you save up to 50% on your energy bills and even secure $0-down subscriptions for new systems if buying a new HVAC seems out of reach.
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Definitely 💯 Palmetto is one HVAC Explorer partner that offers a no-money-down option, which also provides a dozen years of free maintenance. Plus, lease payments start as low as $99 a month. The years of free maintenance, alongside paying nothing upfront, can potentially reduce your overall lifetime spend on HVAC.
TCD's Solar Explorer tool can also make upgrading your home cheaper and easier. It can connect you with vetted installers, potentially saving you up to $10,000 on installations by curating competitive bids.
"Don't forget to collect your tax credit of 30 percent up to $2,000 next tax season," one helpful Redditor chimed in to the OP's post.
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