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Duke Energy Indiana Smart $aver rebates open
Administered by Duke Energy Indiana, through Smart $aver participating contractors.
Duke Energy Indiana pays $400 to $700 toward a new air-source heat pump, $800 to convert electric furnace or baseboard heat to a heat pump, and up to $3,000 to add a gas furnace backup to an existing heat pump, for projects completed after 31 July 2025. Attic insulation and air sealing earn $250 and a heat pump water heater $350, paid as a prepaid card.
source · verified 3 October 2026 · amounts in US dollars
What it pays
| Equipment | Efficiency | Replaced on failure | Early replacement |
|---|---|---|---|
| Air-source heat pump | 15.2 SEER2, 7.5 HSPF2 | $400 | $600 |
| Air-source heat pump | 16 SEER2 or more, 7.5 HSPF2 | $500 | $700 |
| Mini or multi split, conditioning at least 1,000 sq ft | 18 SEER2, 9.0 HSPF2 | $500 | $700 |
| Geothermal heat pump | 19 EER2 full load | $500 | $700 |
| Central air conditioner | 14.3 / 15.2 / 16 SEER2 | $200 / $300 / $400 | $300 / $400 / $500 |
| Smart thermostat, bought with the HVAC job | ENERGY STAR | $65 | $65 |
| Conversion | Efficiency | Replaced on failure | Early replacement |
|---|---|---|---|
| Heat pump to dual fuel, adding an 80% AFUE gas furnace | 15.2 SEER2, 7.5 HSPF2 | $2,500 | $3,000 |
| Heat pump to cold-climate heat pump or ducted mini/multi split | 21 SEER2, 9.0 HSPF2 | $2,000 | $2,500 |
| Heat pump to geothermal | 17.1 EER2, COP 3.6 | $2,300 | $2,300 |
| Heat pump to non-ducted mini/multi split | 15.2 / 18 SEER2 | $600 / $800 | $1,000 / $1,200 |
| Heat pump to ducted mini-split | 15.2 / 18 SEER2 | $400 / $500 | $800 / $900 |
| Electric furnace, baseboard or radiant heat to a heat pump or mini/multi split | 15.2 SEER2, 7.5 HSPF2 | $800 | $800 |
| Upgrade | Condition | Up to |
|---|---|---|
| Attic insulation and air sealing | Attic at R-19 or less raised to R-30+, leakage cut 5%; once per household | $250 |
| Duct sealing | Once per duct system | $100 |
| Heat pump water heater | Contractor-installed, or bought at a participating retailer | $350 |
Who is eligible
- who
- Duke Energy Indiana residential electric customers in single-family and multifamily homes, condominiums, townhomes, duplexes and mobile homes on permanent foundations.
- contractor
- A Smart $aver participating contractor, who submits the application within 60 days of the work.
- early replacement
- The old system must still heat and cool, with no failed compressor, cracked heat exchanger or large refrigerant leak, and you sign an Early Replacement Form.
- conversions
- Most conversion rebates need an existing heat pump with electric strip heat serving at least 1,000 square feet; many HVAC jobs require Duke's duct sealing.
Where the application goes
Your participating contractor submits the rebate; you choose a physical or digital prepaid Mastercard, usually within four to six weeks.
| If this is you | Apply here |
|---|---|
| HVAC rebates | duke-energy.com |
| Insulation and sealing | duke-energy.com |
| Free Home Energy House Call | 844-346-4366 |
The thing most pages get wrong
Duke Energy Indiana's biggest heat pump rebates are not for leaving gas. Converting an existing heat pump to dual fuel, with an 80% gas furnace as backup, earns $2,500, or $3,000 early; converting an electric furnace or baseboard heat to a heat pump earns $800; the table lists no rebate for replacing a gas furnace with a heat pump.
Read the table, not the banner
Duke's insulation page invites you to 'Claim a $350 insulation and air sealing rebate'. Its rebate table lists $250 for attic insulation and air sealing and $100 for duct sealing, each with its own conditions.
Early replacement pays more
Replacing a system that still works earns the higher early-replacement column, for example $600 instead of $400 for a 15.2 SEER2 heat pump.
Sources
- https://www.duke-energy.com/home/products/smart-saver/hvac-install — primary source, read 3 October 2026
- https://www.duke-energy.com/home/products/smart-saver/insulate-and-seal
- https://www.duke-energy.com/home/products/smart-saver/heat-pump-water-heater
- https://www.duke-energy.com/home/products/smart-saver