On-Bill Repayment in Colorado: Heat Pump Financing With $0 Down

You've done the research on heat pump installation in Colorado. You know a heat pump would cut your energy costs and keep your home comfortable through Colorado winters. The thing standing between you and the project is the same thing that stops most homeowners: writing a five-figure check upfront.

On-bill repayment removes that check entirely. Through the Colorado Clean Energy Fund's on-bill repayment program, you get heat pump financing with no money down and repay the cost through a simple line item on the utility bill you already pay. Zero Homes is an authorized contractor in the program, which means we can handle the application for you.

What is on-bill repayment?

On-bill repayment (OBR) works in three steps: your contractor installs an eligible clean energy measure, CCEF pays the upfront cost of the install, and you repay it over time through a line item on your monthly electric bill. No new loan account, no new payment method, no lien on your home — it's all on one bill.

You own the equipment from day one. Rates run between 4% and 5.49% depending on your utility, terms go up to 10 years, and there's never a prepayment penalty if you want to pay it off early.

How the heat pump financing math works

Here's the part worth slowing down for: the monthly energy savings from your upgrades are often higher than the repayment cost — effectively lowering your total bill while you pay off the improvement. Your bill goes up by the repayment amount, down by the savings, and the net can favor you from month one.

That's not guaranteed for every home, which is why the numbers matter. In your free consultation, we'll model your actual home and show you the projected monthly cost against projected savings before you commit to anything.

Which Colorado utilities offer on-bill repayment?

CCEF administers two on-bill pathways depending on your provider:

•       ClearPath On-Bill (Xcel Energy) — available to homeowners in Xcel Energy territories. Up to $50,000 per meter, rates from 4.5% to 5.49%, 2% origination fee, terms up to 10 years. One caveat from the program: gas-only customers are excluded at this time — you need electric service from Xcel.

•       Electrify and Save (Tri-State member co-ops) — GCEA, Mountain View Electric, San Isabel, Sangre de Cristo, San Luis Valley REC, Highline, White River, and San Miguel Power. Up to $75,000 per meter, rates between 4% and 5% (capped at 5%), no origination fee, terms up to 10 years.

Additional Colorado utility co-ops are joining the program regularly. If you're not sure whether your provider participates, we'll confirm it for you during your consultation.

Do you qualify?

The program's requirements are refreshingly simple. You need to own your home, be the utility bill holder, and have a clean recent bill history — no shutoff notices in the past 12 months and no late penalties in the past 6 months.

Your project also needs a scope of work from an authorized contractor, using measures on the program's eligible list. As an authorized OBR contractor, Zero Homes builds that scope of work as part of our standard quote — so qualifying doesn't add steps to your project.

What you can finance — and how 2026 Colorado rebates stack

Eligible measures include air-source and ground-source heat pumps, heat pump water heaters, air sealing and insulation, windows and doors, and battery storage. In other words: the core of a whole-home electrification project, built around cold-climate heat pumps that work in Colorado's coldest months.

Even better, on-bill repayment stacks with 2026 Colorado heat pump rebates and incentives. Anything available at installation gets applied first, reducing the amount you finance. You're not choosing between rebates and financing — you're using both.

What happens if you sell your home?

The repayment obligation stays with the electric meter, not with you. If you move before it's paid off, the new homeowner assumes the remaining payments when service transfers — though you'll disclose it during the sale, and many sellers simply pay off the balance at closing since there's no penalty for doing so.

That structure is why there's no lien on your property. The program files a simple Land Records Notice with the county instead.

How to get started

The program itself runs in six steps: work with an authorized contractor, complete the on-bill application through them, sign the program agreement once approved, the contractor installs and CCEF pays them directly, and your monthly payments simply begin on your next utility bill. You enjoy the upgrades immediately.

Because Zero Homes is an authorized contractor, your part is even shorter: book a free consultation, get your fixed quote and scope of work, and we handle the application and paperwork from there. One thing to know upfront: our quote process is remote and app-based. We use photos and home data instead of sending a salesperson to your kitchen table, which is how we keep quotes fast and pricing honest.