Indianapolis, IN Heat Pump Leasing & Installation
Benefits of Palmetto Heat Pumps
Say goodbye to clunky old systems and surprise repairs. Palmetto Comfort Plan gives you a brand-new heat pump, installation, and full support, all wrapped into one subscription.
Year Round Comfort
A high-efficiency heat pump keeps your home cool in summer, warm in winter, and your energy use in check all year long.
Forget the maintenance
With a Comfort Plan subscription, installation and maintenance are fully covered, no surprise bills, no weekend DIY.
Rewards for renewing
Stick with us and earn credits toward your next system upgrade. It’s our way of saying thanks for building a cleaner, comfier future with us.
Indianapolis, IN Heat Pump Load Calculator
Use our calculator below to estimate your home’s heating and cooling needs based on ACCA-standard design conditions for Indianapolis: 91°F cooling, -5°F heating, and 72°F indoor comfort. For a precise Manual J load calculation and personalized quote, connect with Palmetto’s team. Get in touch with our team for an official quote.
Home location & size
- ZIP Code
- Number of residents
- Home Square Footage (sq ft)
- Home Ceiling Height (ft)
Home attributes
- Amount of sunlight: Low | Moderate | High
- Insulation: Poor | Standard | Good | Excellent
- Number of Windows
- Window and Door Seals: Poor fit & Seal | Typical fit & Seal | Good fit & Seal
Additional details
- Do you have a kitchen? Yes | No
- Do you have any glassed-in rooms? Yes | No
- Extra Device Wattage (W)
- Description of what this means for context.
Estimated Heating Needs
Your home’s location falls within the a climate zone with the average extreme winter falling between 10° – 15° F.
Home Details
Recommended equipment capacity
- 60,000 BTU
- 5 Tons
Calculated Cooling Mode
- 102,000 BTU
- 8.5 Tons
Buy it or finance it. Your comfort, your call
There's no wrong way to get cozy. Here's how the options stack up, so you can choose what works best for you.
| Comfort Plan | Cash | Loan | |
|---|---|---|---|
| Payment schedule | $0 upfront, then monthly subscription | Full price upfront | $0 upfront, then monthly payment |
| Term length | 10 or 12 years | None | Variable |
| End of term options | Flexible with 25% renewal term credits to new system | No credits to new system | No credits to new system |
| Maintenance included | |||
| Eligible for incentives |
Local Incentives
Indianapolis, IN Heat Pump Rebates & Incentives
Local and federal incentive programs can significantly reduce the cost of a new heat pump system. Here are the programs available to Indianapolis homeowners.
Indiana HOMES Rebate
- Amount: Up to $8,000
- Eligibility: Available to single family and multifamily residents. Low-income households may qualify for a rebate of up to $18,000 for achieving energy savings of 35% or more.
- Learn more →
Indiana HEAR Rebate
- Amount: Up to $14,000
- Eligibility: Available to low- and moderate-income households with a maximum total rebate for all qualified projects is $14,000.
- Learn more →
NIPSCO Heat Pump Rebate
- Amount: $800 - $1,000
- Eligibility: Customer must have an active NIPSCO residential electric and/or natural gas account.
- Learn more →
Federal IRA Tax Credit
- Amount: Up to $2,000
- Eligibility: Available to homeowners who purchase and install a qualifying heat pump system.
- Learn more →
Climate Zones
Indianapolis sits in IECC Climate Zone 6, which means cold winters with design temperatures around -5°F and warm summers reaching 91°F.
Climate Zone 6
- Cool climate zone with cold winters and warm summers.
Indianapolis Electricity Prices
Understanding electricity costs in Indianapolis helps you make smarter decisions about your home's heating and cooling systems.
- Price of Energy: Indiana vs National Average
| Year | Indiana | US Average |
|---|---|---|
| 2021 | 13.4¢ | 15.0¢ |
| 2022 | 14.6¢ | 16.0¢ |
| 2023 | 14.9¢ | 16.5¢ |
| 2024 | 14.8¢ |
Indianapolis Area Utility Providers
Indianapolis residents are served primarily by two utility providers: AES Indiana and Duke Energy.
- AES Indiana: 13.80¢
- Duke Energy: 14.30¢
Repair versus replace
When a heat pump is in need of repair it is worth considering whether a replacement would be a better investment.
| Potential repair | Cost range | Description |
|---|---|---|
| Capacitor Replacement | $150 - $400 | Common issue when unit struggles to start or makes a humming noise. |
| Refrigerant Recharge | $250 - $750 | Needed when the system loses cooling or heating efficiency. |
| Reversing Valve Replacement | $450 - $900 | Required when the unit cannot switch between heating and cooling modes. |
| Compressor Replacement | $1,500 - $3,000 | Major repair needed when the unit fails to heat or cool entirely. |
| Evaporator/Condenser Coil Replacement | $1,200 - $2,800 | Replacement needed when coils develop leaks or corrosion that cannot be economically repaired. |
| Control Board Replacement | $500 - $1,200 | Required when the system has electrical failures or erratic behavior. |
| Full System Replacement | $4,500 - $8,000+ | When repairs exceed the value of the unit or multiple major components fail simultaneously. |
Frequently Asked Questions
Do heat pumps make sense in Indianapolis? Yes, heat pumps make sense in Indianapolis. Modern cold-climate heat pumps work efficiently even at Indianapolis's design heating temperature of -5°F.
How efficient are heat pumps in Indianapolis's climate? Heat pumps perform well, maintaining efficiency even during cold winters.
Should I lease or buy a heat pump in Indianapolis? The choice depends on your financial priorities and homeownership plans.
How much does a heat pump cost in Indianapolis? Costs typically range from $5,000 to $20,000 for complete installation.
Is a heat pump worth it financially? Heat pumps are typically worth the investment financially for savings on heating and cooling costs.
Who installs heat pumps in Indianapolis? Licensed HVAC contractors specialize in heating and cooling systems suitable for Climate Zone 6 conditions.
What is the difference between a heat pump and HVAC? A heat pump is a type of HVAC system that efficiently moves heat, providing both heating and cooling from a single system.