While numerous incentives and financing options are available to reduce upfront cost challenges with air source heat pumps (ASHPs), the cost to operate the electric HVAC equipment throughout the winter compared to a natural gas furnace has remained a challenge for many. Due in part to the analysis and recommendations provided by Center for Energy and Environment (CEE), a revised electric space heating rate will be available to Xcel Energy’s Minnesota electricity customers in October 2025, just in time for the start of Minnesota's heating season.