MeterWise

Heat pump vs. furnace in Indiana by electric utility

The answer depends on your electric utility. Pick yours to see the numbers for your rates, your weather and the rebates you can get.

Average electricity

17.0¢/kWh

Indiana residential, last 12 months

Winter gas

$1.07/therm

Nov–Mar average (EIA)

Utilities covered

26

Heat pump ahead at any quote for 0

Statewide rebates

Not checked yet

Numbers leave rebates out

What to know about the Indiana numbers

  • Rebates not checked yet. We haven't checked heat pump rebates in Indiana yet, so the numbers here leave them out. Utility and state programs can take thousands off a heat pump, so ask your utility and your contractor what's available.
  • Mostly average prices. Only 35% of Indiana ZIP codes here are priced on a current utility tariff. The rest use the utility's average price from the U.S. Energy Information Administration, which is about two years old and doesn't show tiers, so the winter price of extra kWh is estimated. Enter the rate from a recent bill for a closer answer.
26 utilities