The Federal Government set aside $300 million of the money authorized under the American Recovery and Reinvestment Act of 2009 to be used by the U.S. Department of Energy for States to offer incentives for the purchase of a new Energy Star rated appliance.

Each State and U.S. territory was allowed to design its own rebate program, and all 56 have submitted plans to the U.S. Department of Energy. Indiana’s received more than $6.1 million for this program.  Every State got it’s own taste of the action for this program, you can find information for your State at the U.S. Department of Energy Website.

Indiana Energy Star Appliance Rebate Program

The U.S. Department of Energy approved Indiana’s Energy applicant Rebate Program on December 02, 2009. The rebate program states that it will help Indiana Home Owners buy an Energy Star HVAC system, lower utility costs and benefit Indiana manufacturing business, WaterFurnace, as well as other business by stimulating the sale of Energy Star rated HVAC systems.  Visit the Energy Star website for a list of qualified heating and cooling systems.

Brandon Seitz, Director of OED said,

Consumers can save more money and more energy by replacing a furnace than any other appliance in their home.  And it’s the only appliance where replacing an older or worn out unit is also a safety issue.

There will be five residential appliances that qualify for Indiana’s ENERGY STAR Appliance Rebate Program:

1. Furnaces
2. Boiler
3. Central Air Conditioner
4. Air Source Heat pump
5. Geothermal heat pump

Is It Time For A New HVAC In Your Home

Indiana’s program will run from February 01, 2010 until funds run out.  To qualify for the rebate the ENERGY STAR appliance must be purchased and installed after February 01, 2010, in a Single Family home you own. There are no retroactive rebates.

So, if you’ve been thinking you need to replace your heating system, or the houses you’ve been looking at to purchase look like they need a new heating system, plan on buying the HVAC system after February 01, 2010 so that you can get a check back from President Obama!

Indiana Energy Star Appliance Information

The rebate will be $500 for the documented purchase of a conventional Energy Star HVAC system, or $1,000 for a geothermal heat pump.

The rebate application will be a paper application to be mailed in along with the original purchase receipt. The rebate form will be available on the Indiana Office of Energy Development (OED) website prior to the start of the program.  Important Note: rebates are on a first come first serve basis as long as the money lasts, so plan on buying early!

---

If you don’t already own a home this is just another motivating factor, on top of the Tax Credit for new homeowners, as well as move up homebuyers.

Give me a call so we can discuss your mortgage options.

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Related posts from Indiana's USDA Home Loan Expert:

1. The Benefits of a USDA Guaranteed Loan to Purchase
2. Minimum Property Requirements for a USDA Home Loan
3. What Goes On At Loan Closing
4. What’s a Credit Score Got to Do With It?
5. REO Properties and USDA Loans