Great news for homeowners here in Northwest Indiana!
The state has joined the federal government and others to encourage and reward those who buy energy efficient furnaces, heating and air conditioning systems. The incentives could in all cut the cost of a new unit in half according to some. See our recent post about winterizing your home!
The U.S. Department of Energy announced it has approved Indiana's 2010 Energy Star Appliance Rebate program, which provides homeowners with a rebate of up to $500 when they purchase Energy Star rated furnaces and heating, ventilation and air conditioning (HVAC) units. The rebate could allegedly be as high as $1,000 for a new geothermal heat pump. Details are still coming through and the latest is to be posted on the Indiana Office of Energy Development website as they are administering the funds.
The state program will begin on Feb. 1 and will continue until the $6.1 million allocated for the Indiana program is exhausted. It is on a first-come, first served basis. Any purchase must be made after Jan. 31 to be eligible. The program is part of the American Reinvestment and Recovery Act funding.
The savings for homeowners are great too, replacing a 60 percent efficient furnace with one that is 95 percent efficient yields about a 40 percent savings on fuel costs used for the furnace only! This really is great as you, the homeowner saves money and it could possibly even help add to the saleability of your property when you list your home by making it more attractive to buyers who wouldn't have to worry about a replacement furnace etc. for some years.
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