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- Available through the Inflation Reduction Act starting on January 1, 2023 through December 31, 2032
- Instant rebates at the point of sale will not be available until Q3 or Q4 in 2024
- The Colorado Energy Office will work with partners to establish a plan to implement the program
- The rebates will be implemented differently in each state. There are currently no guarantees on final amounts, eligibility, or timeline.
- Without additional appropriations from Congress, the rebate programs will end once their initial IRA funding is exhausted.
- For low-income households (under 80 percent of Area Median Income), the Electrification Rebates cover 100% of heat pump costs up to $8,000 and heat pump water heater costs up to $1,750.
- For moderate-income households (between 80 percent and 150 percent of the Area Median Income), the Electrification Rebates cover 50% of heat pump costs up to $8,000 and heat pump water heater costs up to $1,750.
