How much does a heat pump cost in Colorado after rebates?
The most common job, a ducted air-source heat pump, whole home (~3 ton, ~2,000 sq ft), costs $20,000 before rebates. Most jobs cost between $14,000 and $28,000. With the biggest open rebate ($3,000), you could pay about $17,000.
How much does a heat pump cost?
| Project | Low | Typical | High |
|---|---|---|---|
| Ducted air-source heat pump, whole home (~3 ton, ~2,000 sq ft) | $14,000 | $20,000 | $28,000 |
| Ductless mini-split heat pump, single zone (9-18k BTU) | $3,500 | $6,000 | $9,000 |
| Ductless mini-split heat pump, multi-zone (3 indoor zones) | $9,000 | $16,000 | $25,000 |
| Cold-climate premium ducted heat pump, whole home (~3 ton, NEEP ccASHP-listed, top tier) | $17,000 | $23,000 | $32,000 |
| Heat pump water heater, 50-80 gallon | $2,700 | $4,500 | $7,500 |
| Ground-source (geothermal) heat pump, whole home (~3-4 ton) | $25,000 | $40,000 | $65,000 |
What the typical price covers: variable-speed ducted heat pump outdoor unit and air handler sized ~3 tons, line set, refrigerant, thermostat, condensate, electrical circuit, removal of old equipment, permit, commissioning, using existing usable ductwork.
These ranges come from Northeast and national installer data. Prices in Colorado can be lower or higher, so get two or three quotes.
Is there a rebate for a heat pump in Colorado?
Yes. We track 4 heat pump programs taking applications in Colorado. The largest is $3,000 from Colorado Springs Utilities.
- Colorado Springs Utilities - residential efficiency rebates: up to $3,000
- Xcel Energy Colorado - heat pump water heater rebate: up to $1,500 (not yet confirmed)
- Colorado heat pump tax credit (claimed by the installer, passed on as a discount) (not yet confirmed)
- Xcel Energy Colorado - residential heat pump rebates (not yet confirmed)
4 more programs are closed, not open yet, or not confirmed: Colorado Home Electrification and Appliance Rebates (HEAR), Fort Collins Utilities - Epic Homes and heat pump rebates, Black Hills Energy Colorado - residential electric rebates, Holy Cross Energy - heat pump, EV charger and battery rebates.
Which utilities pay heat pump rebates?
Most rebates depend on who supplies your power or gas.
| Utility | Programs | Largest rebate |
|---|---|---|
| Xcel Energy | 2 | $1,500 |
| Colorado Springs Utilities | 1 | $3,000 |
How much will I pay after rebates?
Start with the typical price, $20,000. Take off the largest rebate you qualify for. With $3,000 from Colorado Springs Utilities, that is about $17,000.
Rebates have rules: approved equipment, an approved contractor, and sometimes income limits. Some can be combined, some can't. Check each program before you sign a contract.
Use the rebate calculator to see what applies at your zip code.
Is there a federal tax credit?
No. The federal credits for heat pumps and batteries (25C and 25D) ended for installs after December 31, 2025.
How do I find a licensed installer in Colorado?
We list 70 Colorado contractors whose state license covers heat pump work. Each one shows its license, and many show a phone number or website.
- Heat pump in Denver
- Heat pump in Colorado Springs
- Heat pump in Aurora
- Heat pump in Fort Collins
- Heat pump in Thornton
- Heat pump in Arvada
- Heat pump in Westminster
- Heat pump in Greeley
Sources
- MA EEAC / NMR - 2024/2025 Residential Heat Pump Pricing Study (MA25X05-BR-RHPINV2), ducted ~ $6,912/ton (Aug 2025$) (2026)
- CT DEEP - CTAC Q&A tracker (average ASHP cost ~ $6,600/ton, 2024 CT installs) (2025)
- Angi - Cost to install a mini split in New York, NY (12,000 BTU ~ $3,800-$4,500) (2026)
- HomeGuide - Mini split installation cost (single zone $2,500-$6,000; 12k BTU $3,500-$5,000) (2026)
- MA EEAC / NMR - 2024/2025 Residential Heat Pump Pricing Study (ductless ~ $7,203/ton, 2024 invoices) (2026)
- MA EEAC - Residential Heat Pump Invoice Cost Analysis (MA23X14-B-RHPINV): ductless ~ $5,830/ton, ~2.3 zones per project (Jan 2024$) (2024)
- NREL (Wilson et al.), Heat pumps for all? Distributions of the costs and benefits of residential air-source heat pumps in the US, Joule (ducted average ~ $22,400) (2024)
- BetterHouse - Cold-climate heat pumps: what the spec requires and what they cost ($12,000-$32,500 cold-climate vs $9,270-$22,295 standard) (2026)
- Angi - Cost to install a heat pump water heater (avg ~ $4,200; $2,800-$8,000) (2026)
- ENERGY STAR - What goes into the cost of installing a heat pump water heater? (unit $1,500-$3,000 + labor/materials $1,000-$3,000) (2026)
- MA EEAC - Residential Heat Pump Invoice Cost Analysis (MA23X14-B-RHPINV): GSHP ~ $14,211/ton (Jan 2024$) (2024)
- EnergySage - Ground source heat pump cost ($15,000-$40,000+) (2025)
- Programs: official program pages, checked 2026-10-12. Installers: Colorado state license records.