$0 Down Heat Pump Installation with ClearPath On-Bill Financing
Qualify for ClearPath On-Bill and you can get a new heat pump installed with nothing out of pocket. Your Xcel rebate comes off the price first, and the rest is repaid as a fixed monthly line on your Xcel Energy bill.
The $1,500-per-ton Xcel rebate is ONLY for installs where the new heat pumps become the home’s PRIMARY heat source and carry AT LEAST 50% OF THE HOME’S HEATING LOAD.
Single-room systems, or any install that heats less than half the home, do not qualify for the per-ton rebate. Those installs get one flat $500 Xcel rebate instead. ClearPath On-Bill financing is still available for them.
ClearPath On-Bill Payment Calculator
Enter your project price. We take rebates off first, then show what you would finance and pay each month.
| Project price | |
| Xcel heat pump rebate | |
| Down payment | |
| Amount financed | |
| Power Ahead Colorado (paid to you separately, not deducted) |
| Term | APR | Monthly | Total paid |
|---|
Estimates only, using the ClearPath On-Bill fixed rates for each term (3 years 4.5%, 5 years 4.75%, 7 years 5.0%, 10 years 5.49%). Your actual rate, payment, any program fees and approval are set by the Collective Clean Energy Fund and shown in your loan documents. The Xcel rebate shown is $1,500 per ton, based on the system’s rated capacity at 5°F, and applies when the heat pump carries at least 50% of the home’s heating load. Single-room or partial installs that heat less than 50% of the home get one flat $500 Xcel rebate instead. Power Ahead Colorado is paid to eligible homeowners separately and is not deducted from the amount financed. Rebate amounts and eligibility are confirmed with your quote.
How ClearPath On-Bill works
ClearPath On-Bill is a financing program for Xcel Energy customers in Colorado, run by the Collective Clean Energy Fund (CCEF), a nonprofit lender. Instead of a separate loan payment, your monthly payment shows up as one line on the Xcel bill you already pay. We’re an authorized ClearPath contractor, so we put together the scope of work and submit the application for you.
- Free assessment and proposalWe size the right heat pump for your home and write up the scope of work and price, with your Xcel rebate credited up front.
- Xcel account checkXcel confirms your account and billing history, usually within 36 hours. No credit check.
- ApplicationWe upload the proposal, photos and scope of work to CCEF and send you a link to complete your application.
- Approval and signingCCEF reviews the project. Once approved, you e-sign the funding package and a Notice to Proceed is issued.
- Installation, $0 downWe install your system, then you and we sign a Certificate of Completion. CCEF pays us directly.
- Payments on your Xcel billXcel adds your fixed monthly payment as one line on your regular bill.
Do you qualify? Check yourself in 1 minute
ClearPath On-Bill approval is based on your home and your Xcel Energy account, not your credit score. Check each box that applies to you.
ClearPath On-Bill eligibility checklist
For Xcel Energy electric customers in Colorado
Check the boxes above to see if you’re likely to qualify.
This checklist is a guide. Final approval is made by Xcel Energy and the Collective Clean Energy Fund.
Have these ready when you call
- A recent Xcel Energy bill in your name
- The names on your home’s deed
- An email address to sign the program documents electronically
- A time for our free in-home assessment
Upgrades you can finance with ClearPath On-Bill (Xcel)
Each upgrade must meet the program’s minimum efficiency requirements. We confirm every item on your proposal qualifies before we apply.
| Upgrade | Minimum requirement | Xcel rebate and notes |
|---|---|---|
| Cold-climate heat pump, ductless (mini-split) | 16 SEER2, 9 EER2, 9.5 HSPF2 | $1,500 per heating ton, rated at 5°F, when the heat pumps carry at least 50% of the home’s heating load. Credited up front. Partial or single-room systems get one flat $500 rebate. |
| Cold-climate heat pump, ducted or partially ducted | 15.2 SEER2, 10 EER2, 8.1 HSPF2 | $1,500 per heating ton, rated at 5°F, with the same 50% heating-load rule. Partial or single-room systems get one flat $500 rebate. |
| Dual-fuel heat pump system | Heat pump meets the specs above; gas furnace at least 90% efficient | Eligible for financing. Rebate follows the heat pump’s rating. |
| Standard air-source heat pump | 15.2 SEER2, 11.7 EER2, 7.8 HSPF2 | Eligible for financing. We confirm the current rebate with your quote. |
| Ground-source heat pump | 16 EER2, 3.3 COP full load | Eligible for financing. We confirm the current rebate with your quote. |
| Heat pump water heater | ENERGY STAR rated | $1,500 Xcel rebate. |
| Electrical panel upgrade | Must be part of a qualifying heating and cooling project | Can’t be more than 30% of the total project cost. |
| Attic insulation | Starting below R-24, finished at R-60 or higher | Pre- and post-install blower door test required. |
| Wall insulation | Empty wall cavities filled to R-13 or higher | Pre- and post-install blower door test required. |
| Air sealing | At least a 20% reduction in air leakage (CFM50) | Blower door testing and a CO monitor near combustion equipment required. |
| Smart thermostat | ENERGY STAR, eligible for Xcel AC Rewards | Usually added to a heat pump project. |
| Windows and doors | ENERGY STAR Version 7 | Eligible for financing. |
| Battery storage | Enphase or Tesla battery charged by existing solar | You must already have solar. |
| Evaporative cooler | At least 2,500 CFM | Premium and multi-duct models also qualify. |
| Health and safety work | Directly related to the energy upgrade | Radon or asbestos abatement, lead-safe work, air filtration and similar, up to 30% of the project cost. |
Not eligible
Roof replacements, kitchen remodels, tree removal and other work not tied to an energy upgrade can’t be financed through ClearPath On-Bill.
ClearPath On-Bill rates
| Term | Fixed APR | Payment on a $10,000 balance |
|---|---|---|
| 3 years | 4.5% | |
| 5 years | 4.75% | |
| 7 years | 5.0% | |
| 10 years | 5.49% |
Rates are set by the program and can change. We’ll confirm the current rate when we submit your application.
ClearPath On-Bill questions
Is it really $0 out of pocket?
Yes, if you’re approved. You can finance the full price after rebates, so nothing is due at installation. You can still choose to put money down to lower your monthly payment.
Do rebates lower what I finance?
Yes. Your Xcel rebate is applied as an up-front credit that lowers the amount you finance. It isn’t paid to you in cash. Power Ahead Colorado’s $1,500 is separate: we file it, and it’s paid to you.
What if the final Xcel rebate comes in lower?
You’re protected. If Xcel’s verified rebate ends up lower than the credit applied to your project, your financed amount never goes up, and we cover the difference.
Does it put a lien on my house?
No. There’s no lien. A land records notice is filed with the county to document the obligation.
What happens if I sell my home?
The payment is tied to the electric meter. When you sell, you disclose it to the buyer, and either the buyer agrees to take over the remaining payments or you pay off the balance before closing.
Can I pay it off early?
Yes. There’s no prepayment penalty.
How fast is approval?
The utility review is usually done within 36 hours. Once CCEF approves the project, you sign the program documents, a Notice to Proceed is issued and we schedule your installation.
Can I use it on a second home or vacation home?
Yes, as long as you own the home, you’re on the Xcel bill and the home has its own electric meter.
Who owns the equipment?
You do, from day one.
See if you qualify for $0 down
We’ll assess your home, quote the right heat pump, apply rebates and submit your ClearPath application.