Page updated 3/27/2025
Welcome to the Business Resources page of Xcel Energy’s Partners in Energy’s Inflation Reduction Act (IRA) Resource Guide. This resource is intended to guide you to available IRA resources and share how you can combine these resources with Xcel Energy or other incentives.
Disclaimer: Important Notice Regarding Recent Policy Changes
This IRA Resource Guide was developed to provide information on programs and funding opportunities available under the Inflation Reduction Act (IRA) as originally enacted in 2022. However, please be aware that recent executive actions have impacted the implementation of the IRA. On January 20, 2025, the executive order titled "Unleashing American Energy" was signed, pausing the disbursement of funds appropriated through the IRA, including those allocated to the Greenhouse Gas Reduction Fund. This pause affects the availability of certain grants and financing programs intended for climate and clean energy projects. As a result, some of the federal resource information in this guide—such as funding availability, program timelines, or eligibility criteria—may be changing. While this guide remains a valuable resource for understanding the original scope and intent of the IRA, we strongly encourage you to seek the most current information due to these policy shifts.
We appreciate your understanding as we navigate these changes and strive to provide the most accurate and up-to-date information possible.
Resources for Commercial Energy Projects
Building Efficiency
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Xcel Energy energy savings programs
- IRA direct pay tax credit (§179D) for interior lighting; heating cooling, ventilation, and hot water systems; and building envelope improvements. For details, explore this Environmental Defense Fund IRA Building Efficiency Guide.
- State-specific:
- Colorado and Minnesota Xcel Energy Empower Facilities turnkey solution, including project support and financing options
- Colorado Nonprofit Energy Efficiency Program, including project funding for nonprofits serving income-qualified residents
- Colorado C-PACE financing
- Minnesota MinnPACE financing
- Wisconsin PACE financing
Electrification
- IRA direct pay tax credit (§48/§48E) for energy investments, including geothermal heat pumps. For details, explore this Environmental Defense Fund IRA Building Efficiency Guide.
- State-specific
- Colorado Geothermal Energy Grant
- Colorado C-PACE financing
- Minnesota MinnPACE financing
- Wisconsin PACE financing
Renewable Energy
- Xcel Energy renewable energy programs
- IRA direct pay tax credits (§45, §45Y, §48, and §48 (e), (h)) for renewable energy investment and production. For details, explore this Environmental Defense Fund IRA Renewable Energy Guide.
- State-specific
- Colorado Geothermal Energy Grant
- Colorado C-PACE financing
- Minnesota MinnPACE financing
- Wisconsin PACE financing
Electric Vehicles (EVs)
- Xcel Energy fleet and charging infrastructure programs
- IRA direct pay tax credits (§45W and §30C) for clean vehicles and charging infrastructure. For details, explore this Environmental Defense Fund IRA Fleet Electrification Guide.
- U.S. EPA Clean Heavy-Duty Vehicle Grants/Rebates.
- State-specific
- Colorado Fleet-ZERO Grant
- Colorado EV tax credit
- Minnesota State Electric Vehicle Rebate Program