Is Electrification Worth It in Indiana?
Indiana is right on the edge. Could go either way.
About 5,600 heating degree days in Indianapolis. Electricity costs $0.13/kWh. Natural gas is cheap—$0.95/therm from all that Marcellus Shale gas flowing through the region. You need real heating, but winters aren't brutal. Duke Energy and NIPSCO offer some heat pump rebates, but they're not game-changers.
This is a judgment call. If you're replacing both heating and cooling, lean toward a heat pump—you'll probably break even in 8-10 years. If your gas furnace works fine and you just need AC, get a standalone AC unit and keep the furnace. The economics here are marginal unless you're heating with propane (then it's an easy yes).
Indiana Energy Costs
Visual ROI Analysis
Payback Period Comparison
Lower is better • Shortest payback = fastest return on investment
Annual Savings Comparison
Higher is better • More annual savings = greater long-term benefit
Cumulative Net Savings Over Time
Point where line crosses $0 = payback achieved • Steeper line = faster savings growth
Return on Investment by Upgrade
Heat Pump HVAC
Solar Panels
Heat Pump Water Heater
EV Charger + Electric Vehicle
Full Electrification Package
Best ROI for Indiana
Based on your state's energy costs and climate, EV Charger offers the best return on investment with an average payback of 0.5 years and an ROI of 1440%.
0.0 years slower than average compared to the national average.
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