⚠️ Verify current program details at Xcel Energy’s website before purchasing. Program amounts and qualifying lists change each year.

Colorado homeowners served by Xcel Energy can claim $75–100 back on a qualifying smart thermostat, plus ongoing summer credits through the AC Rewards demand-response program. Xcel covers Denver, Boulder, Colorado Springs, and Fort Collins, running one of the stronger combined rebate-plus-demand-response programs in the country.

Xcel Energy Smart Thermostat Rebate (Colorado)

Xcel Energy’s residential efficiency rebate program includes smart thermostats as an eligible measure.

Rebate amount: $75–100 per qualifying thermostat
Who qualifies: ENERGY STAR certified model; connected to Xcel-served gas or electric system; replaces an existing thermostat
How to apply: Submit through Xcel’s online rebate center after purchase; keep your itemized receipt showing model name and date

Xcel operates across Colorado and Minnesota; see the dedicated Xcel program page for details across both states: Xcel Energy Smart Thermostat Rebate & Rewards.

AC Rewards / Demand-Response Program

Beyond the one-time purchase rebate, Xcel Energy’s AC Rewards (also called Saver’s Switch in some years) is a demand-response program that pays ongoing credits for allowing Xcel to cycle your cooling during peak demand events in summer.

Program structure:
– Enroll a qualifying smart thermostat in the AC Rewards program
– During summer peak events (a few dozen hot afternoons per season), Xcel makes a modest thermostat adjustment, typically 2–4°F for 2–4 hours
– You receive bill credits for each event you participate in

Eligible thermostats for AC Rewards: ecobee, Nest, Honeywell Home, and Amazon Smart Thermostat. Verify the current qualifying list at xcelenergy.com before purchasing.

Enrollment: Through Xcel’s website or, in some cases, directly through your thermostat app (ecobee eco+ shows available Xcel programs on its own for Colorado customers).

Other Colorado Utilities

While Xcel is the dominant provider, other utilities serve parts of Colorado:

  • Black Hills Energy: Serves Pueblo and some southern Colorado areas. Runs its own thermostat rebate program; check current availability at blackhillsenergy.com
  • Holy Cross Energy: Serves Glenwood Springs area. Check current program availability
  • Municipal utilities: Fort Collins Utilities, Colorado Springs Utilities. Each has its own efficiency programs

If you’re not in Xcel’s territory, find your utility at your electric bill and check its website for current thermostat rebate programs.

Qualifying Models

Colorado-eligible thermostats: ecobee Enhanced/Premium, Google Nest, Honeywell T9/Sensi, Amazon Smart Thermostat (Xcel rebate eligibility, AC Rewards qualification)

Frequently Asked Questions

How much does Xcel Energy rebate for a smart thermostat in Colorado?
$75–100 per ENERGY STAR certified thermostat. Verify the current amount at Xcel’s rebate center before purchasing, since amounts can change.

What is the Xcel Energy AC Rewards program?
AC Rewards is Xcel’s demand-response program. You enroll your smart thermostat and allow Xcel to make modest temperature adjustments during summer peak demand events. In exchange, you receive bill credits. It’s separate from the purchase rebate and provides ongoing annual value.

Can I get both the Xcel rebate and the AC Rewards credit?
Yes. They’re separate programs. The purchase rebate is a one-time payment for buying an ENERGY STAR thermostat. The AC Rewards credit is an ongoing program based on participation in demand events.

Does Xcel Energy cover Colorado and Minnesota?
Yes. Xcel Energy serves Colorado (including Denver) and Minnesota (including Minneapolis–Saint Paul). Program details are similar but verify Colorado-specific amounts at xcelenergy.com.

What if I’m not served by Xcel in Colorado?
Check Black Hills Energy, Holy Cross Energy, or your local municipal utility. Each has its own efficiency programs, so visit your utility’s website or search “[your utility name] smart thermostat rebate.”