Xcel Energy Business Equipment and Efficiency Rebates
Xcel Energy (Public Service Company of Colorado / Northern States Power)
Varies by equipment/state
Xcel Energy rebates cover lighting, HVAC, and custom efficiency projects across 8 states
Xcel Energy offers comprehensive energy efficiency rebate programs to commercial and industrial customers across eight states — Colorado, Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico, and Texas. Programs cover prescriptive equipment rebates (lighting, HVAC, refrigeration, motors), custom efficiency projects, and engineering study cost-sharing (up to 75% of study cost). The three-year energy efficiency plan (2024-2026) has a total budget of $280 million. LED projects earn an additional 25-50% in limited-time bonus rebates in some states.
- Funding type
- Program
- Level
- Private
- Amount range
- $100
- Realistic amount
- Small businesses typically receive $1,000–$15,000 per project for lighting or HVAC upgrades. Mid-size commercial account…
- Deadline
- Rolling — Minnesota LED bonus through October 31, 2026; Colorado program resumed after 2024 pause; general program ongoing
- Status
- active
- States
- CO, MN, WI, MI, ND, SD, NM, TX
- Payment model
- reimbursement
Who qualifies
- Active Xcel Energy commercial or industrial electric account in Colorado, Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico, or Texas
- Equipment must meet published minimum efficiency specifications per state-specific program guide
- New installation or replacement of existing equipment (not repairs)
- For custom projects: prior pre-approval required before starting
- For energy study cost-share: facility must be eligible for follow-on efficiency upgrades
What it covers
Eligible expenses
- LED lighting fixtures and controls (prescriptive — highest rebate volume)
- HVAC equipment (heat pumps, rooftop units, VRF systems, chillers, boilers)
- Refrigeration equipment and controls
- Electric motors and variable frequency drives
- Compressed air systems
- Building envelope and window improvements
- Custom industrial process efficiency improvements
- Energy audit and engineering study (75% covered)
Ineligible expenses
- Residential equipment or accounts
- Equipment not meeting minimum efficiency specifications
- Repairs to existing equipment
- Solar PV or wind (separate programs)
- Equipment outside Xcel service territories
How to apply
-
1
Contact Xcel Energy Business Solutions Center
Call 855-839-8862 or email EnergyEfficiency@xcelenergy.com to connect with your account manager. For prescriptive projects, identify eligible equipment from the state-specific program summary. For custom or large projects, request a pre-approval before purchasing equipment.
-
2
Request energy study (optional but recommended for large projects)
For facilities spending $50,000+ on energy annually, Xcel offers to cover up to 75% of an engineering study to identify highest-ROI projects. Studies typically identify multiple qualifying upgrades and help maximize total rebate capture.
-
3
Purchase and install qualifying equipment
Install equipment meeting Xcel's published minimum efficiency standards. Retain all invoices, equipment cut sheets, and contractor documentation.
-
4
Submit rebate application online
Apply through Xcel's online portal at my.xcelenergy.com/s/business or mail the completed application. Attach invoices and equipment specifications. Custom project applications require the pre-approval letter.
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5
Receive payment
Xcel processes the application and issues payment, typically within 4-8 weeks. Large custom projects may require a site verification visit.
The energy study cost-share (up to 75% of study cost) is the least-known benefit — it lets you get a professional engineering assessment cheaply, which then identifies the highest-ROI projects for rebates.
Deadline & timing
Xcel's Colorado commercial rebate program was paused mid-2024 after exceeding 80% of its annual budget but resumed after regulators approved a budget transfer. Minnesota LED bonus (additional 25-50%) applies to equipment purchased and installed January 1 – October 31, 2026, with invoices due by November 13, 2026. General program is rolling throughout 2024-2026 cycle.
Programs that stack well
Related programs
Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.