What a heat pump costs in Denver.
These are typical prices from our recent Denver estimates. Send a few photos and we’ll tell you where yours lands.
| System | Price | |
|---|---|---|
| Furnace + heat pumpHeat pump outside, gas furnace inside for the coldest hours. | $14,800–$18,200out of pocket, $21k–$28k full price | |
| Ducted heat pumpHeat pump on your existing ducts, with no new furnace. | $15,300–$19,000out of pocket, $21k–$28k full price | |
| Single-zone ductlessOne outdoor unit and one indoor head for one room. | $10,400–$12,200 | |
| Multi-zone ductlessOne outdoor unit running two or more indoor heads. | $23,400–$36,200about $17k–$30k after rebates | |
| Furnace + ACA new gas furnace and air conditioner, for comparison. | $12,800–$16,200out of pocket, $13.2k–$16.6k full price |
What changes the price
- 1Heat pump, usually where the old AC sat
- 2Insulated suction line and smaller liquid line
- 3New coil on top of the furnace
- 4New gas furnace for the coldest nights
- 5PVC intake and exhaust through the wall
- 6Thermostat that switches to the furnace
- 7Coil drain to the floor drain
- 8Disconnect on the outside wall
Furnace + heat pump
$14,800to$18,200
Out of pocket, against $21,000–$28,000 full price
Usually about $2k more than a new furnace and AC, out of pocket.
Costs more
- Replacing a furnace that still has years left
- A new line set through finished walls
- Panel work when the panel is full
Costs less
- Setting the heat pump on the old AC pad
- The panel has room for the new circuit
- Ducts that already fit
Heat pump rebates in Denver
A furnace with a heat pump usually costs about $10.2k more than a new furnace and AC. Colorado and Xcel rebates pay toward the heat pump. With Xcel gas, most pay $14.8k–$18.2k out of pocket, against $12.8k–$16.2k for a furnace and AC.
Xcel changed its rebates on October 1, 2026, so check current amounts before you count on them.
Furnace + AC$16k
Furnace + heat pump$26.2k
What’s included in the price
Ducted
A heat pump outside, and a furnace or air handler on your ducts inside.
Ductless
An outdoor unit outside, and a slim head on the wall of each room it serves.
Get a price for your house.
Send four phone photos and we’ll follow up with a price and the rebates you qualify for.
- 1 The furnace or air handler
- 2 Its rating label
- 3 The outdoor unit
- 4 The electrical panel, door open
Heat pump cost guides
Prices are typical ranges from recent estimates in the Denver area, before rebates. Out-of-pocket figures assume Xcel gas in the Denver metro; Xcel electric without Xcel gas gets about half the Xcel rebate.