Heat Pump Cost in Indiana 2026
A whole-home ducted heat pump costs $6,500–$11,000 installed in Indiana in 2026, with a typical standard system landing near $8,960. Indiana is the rare state where the federal rebate money is real — the Indiana Energy Saver program has been paying up to $8,000 for an ENERGY STAR heat pump since May 2025 — but the same state is also one of the hardest places in the country to make a heat pump beat a gas furnace on running cost, because Indiana electricity costs 17 cents a kilowatt-hour while gas costs about $1.18 a therm. This guide prices every system type from a single mini-split zone to geothermal, compares Indianapolis, Fort Wayne, Evansville, and South Bend, works the fuel math at Indiana’s own prices, and walks through the rebate stack that can cut a qualifying household’s net cost by more than half.