Article provided by Xcel’s Partners in Energy Program in collaboration with Boulder County
Now is the time to take advantage of millions of dollars in rebates available from Xcel Energy, Boulder County, and the State of Colorado to modernize commercial and residential properties and future-proof your investments.
Available Funding Opportunities:
- Xcel Energy’s Multifamily Buildings program: Offers free building assessments and direct installation of free energy-saving measures, along with customized recommendations for property owners. Additionally, Xcel Energy has started offering bonus rebates on select HVAC equipment to promote energy efficiency and carbon reduction through natural gas alternatives.
- Decarbonization grant for Denver Regional Council of Governments (DRCOG): A $200 million initiative to fund building decarbonization over five years. Beginning mid-2025, the program will provide free energy advising, rebates, and incentives for building electrification projects.
- Home Electrification and Appliance Rebates (HEAR) program: Launching in late spring 2025, this program will cover 50% to 100% of qualified electrification and weatherization projects, including heat pump installations, insulation, air sealing, and electric cooktops.
- Inflation Reduction Act (IRA): Was created to provide aggressive funding for multifamily buildings. Retrofits achieving 35% energy savings or more can qualify for up to $400,000 per building. Federal funding is subject to change in 2025.
- Charge Ahead Colorado program: Offers grants of up to $4,500 per Level 2 EV charging port and up to $35,000 per DCFC port for multifamily properties. Eligible applicants can submit the Charge Ahead Colorado rolling application year-round on an ongoing basis if they are applying for six or fewer Level 2 charging ports. EV funding is subject to change in 2025.
For information about available multifamily support from Boulder County, please contact Andrew Kadlec via email: akadlec@bouldercounty.gov.
Why these Upgrades Are Worth Considering:
- Boost Property Value: Sustainable upgrades enhance property appeal and marketability. A 2020 study across 23 states found that installing heat pumps increased a home’s value by 4.3-7.1%[1]. Other energy-efficient improvements, such as upgrading appliances, yield similar returns. Whether retaining or selling, these investments promise a strong ROI.
- Reduce Maintenance and Operating Costs: Modern, energy-efficient equipment cuts repair expenses and ongoing operational costs. High-efficiency buildings can save $0.60 per sq. ft. each year on operation and maintenance costs[2]. Leveraging available rebates to replace aging, high-maintenance equipment can significantly lower costs and boost profitability.
- Get Ready for the Future with EV Charging Stations: Adding EV charging stations makes your property more appealing to renters who own or plan to own EVs. In Boulder County, 30% of new car sales in 2024 were EVs[3]. Installing EV charging stations enhances property attractiveness, future-proofs your investment, and meets growing tenant demand.
Beyond financial benefits, these upgrades demonstrate a commitment to sustainability and community responsibility. They can strengthen relationships with tenants, neighbors, and local officials while reinforcing your reputation as an environmentally conscious property owner.
To learn more about these rebate opportunities, attend our BARHA Vendor Showcase and Colorado Legislative Update event on the 15th of May, 2025 to talk to experts in person. Now is the time to invest in efficiency, reduce costs, and secure the future of your property.