Hoosiers across the state of Indiana will soon benefit from a federal funding of $182 million aimed at reducing energy use and costs.
After the U.S. Department of Energy approves the state’s plan later this year, two distinct programs will receive the funding.
Ryan Hadley, from the Indiana Office of Energy Development, expressed his enthusiasm regarding the opportunities presented by the programs. He stated that the goal of these programs is to ensure that customers do not have to bear the full cost of investments made.
Hoosiers can now take advantage of the Home Efficiency Rebate Program (HOMES), which offers discounts on new insulation, air sealing, and duct work. To be eligible, households must demonstrate that new insulation can result in at least 20 percent energy savings. Although all Hoosier households are encouraged to apply, this program is particularly beneficial for those looking to make their homes more energy-efficient.
Hadley explained that customers who apply for an energy audit must meet specific metrics. If the customer’s income is less than 80% of the area median income, they will receive double the amount of discounts compared to those who are above that threshold.
According to Hadley, the HEAR program, also known as the Home Appliance Rebate Program, will offer discounts on new HVACs, water heaters, and heat pumps. However, this program will only be accessible to low and moderate-income households.
Hadley stated that individuals who fall under 150 percent of the area median income are eligible to apply.
According to Hadley, Hoosiers can receive aid from both programs for a period of three to four years after their launch.
According to Hadley, the amount of financial assistance per home for energy efficiency upgrades can vary depending on the outcome of the energy audit. However, the maximum limit for this assistance is $14,000.
Within the next two weeks, there will be informational meetings held in Indianapolis, Fort Wayne, and Evansville regarding both programs. As per Hadley, the programs are expected to be launched in late 2024 or early 2025.