⚠️ Verify current program amounts and qualifying thermostat lists at xcelenergy.com before purchasing or enrolling. Xcel updates programs annually.

Xcel Energy serves approximately 3.7 million customers across Colorado, Minnesota, and several other states. Its smart thermostat programs combine a one-time purchase rebate with the ongoing AC Rewards demand-response program: two separate income streams from a single thermostat purchase.

Xcel Energy Smart Thermostat Rebate

Xcel’s residential efficiency programs include smart thermostats as a qualifying measure under its energy efficiency portfolio.

Rebate amount: $75–100 per qualifying thermostat (varies by state and program year)

Eligible states:
– Colorado (Denver, Boulder, Fort Collins, Colorado Springs, and surrounding areas)
– Minnesota (Twin Cities metro, greater Minnesota Xcel territory)

Qualifying criteria:
– ENERGY STAR certified thermostat
– Xcel residential gas or electric customer
– Replace an older, non-programmable or less efficient thermostat

How to apply:
1. Purchase an ENERGY STAR qualifying thermostat
2. Keep the receipt showing purchase date and model
3. Submit via Xcel’s online rebate center at xcelenergy.com/rebates
4. Receive credit within 6–8 weeks (most programs mail a check or apply a bill credit)

AC Rewards: Demand-Response Credits

Xcel Energy’s AC Rewards program (also called Saver’s Switch in some program years) pays ongoing bill credits for allowing Xcel to make modest adjustments to your cooling during summer peak demand events.

How it works:
– Enroll your qualifying smart thermostat through Xcel’s website or your thermostat app
– During summer peak events (hot afternoons, June–September), Xcel sends a brief adjustment signal through your thermostat’s cloud platform
– Your cooling setpoint may rise 2–4°F for 1–3 hours
– You receive bill credits for the season based on participation

Typical AC Rewards credits: $20–50 per season (varies; check current program)

You keep full manual override at all times. Opting out of a specific event is always available, though it may affect total credits for that event.

Eligible Thermostats for Xcel Programs

Both the purchase rebate and AC Rewards require thermostats on Xcel’s qualifying list.

Xcel-eligible thermostats: ecobee Enhanced/Premium, Google Nest (Learning and Thermostat), Honeywell Home T9/Sensi, Amazon Smart Thermostat (rebate amount by state, AC Rewards eligibility)

Enrolling via thermostat app: ecobee’s eco+ automatically shows available Xcel programs for Colorado and Minnesota customers. Nest’s app also shows available demand-response programs by location.

Colorado vs Minnesota Programs

Colorado Minnesota
Rebate amount $75–100 $75–100
AC Rewards Available (verify) Available (verify)
Other programs Black Hills Energy in Pueblo area CenterPoint Energy gas programs

Program amounts are similar but not identical. Verify at xcelenergy.com for your specific state.

Stacking Xcel Programs

Purchase rebate + AC Rewards: Independent programs. Claim both.

Xcel rebate + federal/state programs: Xcel’s rebate is funded by the utility, separate from any state or federal programs. No conflict.

Multiple thermostats: Rebates are typically per thermostat, not per household. If you have multiple qualifying thermostats in different rooms or zones, each may be eligible on its own; verify Xcel’s current terms.

Frequently Asked Questions

How much does Xcel Energy rebate for a smart thermostat?
$75–100 for ENERGY STAR certified models in Colorado and Minnesota. Amounts vary by program year, so verify at xcelenergy.com/rebates before purchasing.

What is Xcel’s AC Rewards program?
AC Rewards pays bill credits for allowing Xcel to make modest temperature adjustments during summer peak demand events. You receive $20–50/season (varies), and the thermostat manages the adjustments without any action from you.

Can I get both the Xcel rebate and AC Rewards?
Yes. They’re separate programs. The rebate is a one-time payment at purchase. AC Rewards is an ongoing participation program paying seasonal credits.

Does Xcel Energy AC Rewards cover both Colorado and Minnesota?
Similar programs run in both states. Colorado and Minnesota customers should check xcelenergy.com for their specific state’s current program terms.

How do I enroll in Xcel’s AC Rewards?
Through Xcel’s website directly, or through your thermostat’s app. ecobee’s eco+ shows available Xcel programs for Colorado and Minnesota customers automatically. For Nest, check the app’s energy settings for available programs.