"Most important, we know there are thousands of Hoosiers who have old units and are letting hundreds of dollars go out the window," she said. "Not only will having a new unit make their home more comfortable, they will gain anywhere from $200 to $700 in savings every year. Replacing a heating or air conditioning unit is the single-best thing homeowners can do to reduce their energy consumption."
Indeed, Chris Nelson, Carrier's vice president of sales and marketing for the company's residential and light commercial business division, says 43 percent of a home's energy consumption is driven by heating and cooling units on average.
"Replacing older, less-efficient units with higher efficiency Energy Star units - which qualify for this program - can drive significant financial benefits," he said.
There's also an economic benefit from IHIP. This Carrier plant, which is the largest furnace manufacturing facility in North America, employs 1,200 Hoosiers. The nation's biggest geothermal facility is in Fort Wayne. More than 4,000 heating, ventilation, and air conditioning installers statewide stand to benefit from IHIP too.
"We hope when Hoosiers make this investment, we also provide a boost to industry and jobs," Skillman said.
Indiana received $6.1 million from the federal government to fund IHIP. The program will remain active until the funds are exhausted. Rebates vary from $300 for a new gas furnace to the maximum $1,000 to install a geothermal heat pump.