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Rebate Programs

Rebates & Incentives

Air Source Heat Pump Rebates

You want to save money on your electric bills. You want to keep your home comfortable all year long. You know it’s time — maybe past time — to replace the system you have with something more efficient. You need to consider an air source heat pump. Because consider this: on average, a heat pump can move about three times as much heating or cooling energy as it uses — which means it’s about 300% efficient! That’s a big stretch for your heating and cooling dollars.

Qualifying air source heat pumps must meet a minimum cooling efficiency rating of equal to or greater than 15.2 SEER2* and heating efficiency rating equal to or greater than 8.1 HSPF2**.

Available Air Source Heat Pump Rebates

Heat Pump Rebate by ConfigurationCold Climate Heat Pump***Non-Cold Climate Heat Pump
All- Electric Air Source Heat Pump$1,800$750
Mini-Split Air Source Heat Pump$800$250

* SEER2 – Seasonal Energy Efficiency Ratio: a measurement of the energy efficiency with which a central cooling system can operate over the course of an entire cooling season.

 ** HSPF2 – Heating Season Performance Factor: a measurement of an all-electric air-source heat pump’s efficiency (in the heating mode) over an entire season. HSPF is calculated by dividing the total number of Btus of heating provided over the entire season by the total number of watt-hours required to operate the system over the season.

*** Cold Climate Heat Pump is an updated, more efficient version of a typical air source heat pump. Advancements in compressor technology allow these newer heat pumps to gather up heat from outdoors at much, much lower winter temperatures than typical heat pumps. In technical terms, a cold climate heat pump is capable of achieving a coefficient of performance (COP) of at least 1.75 when it is 5 degrees outside. That .75 might not seem like much, but that translates to a big reduction in energy consumption for the homeowner. If a traditional heat pump costs them $400 to heat in a cold winter month, a cold climate heat pump with a COP of 1.75 would lower that cost to roughly $230, a 43% difference.

A dual fuel air source heat pump combines an electric air source heat pump with a traditional gas furnace, offering several benefits:  

Energy Efficiency: Optimizes energy use by switching between electricity and gas depending on the temperature, reducing overall energy consumption and costs.

Cost Savings: Lower operational costs as the system uses the most cost-effective fuel source available

Reliability: Provides consistent heating even in extremely cold weather.

Comfort: Maintains a comfortable indoor temperature year-round with efficient heating and cooling.

Qualifying air source heat pumps must meet a minimum cooling efficiency rating of equal to or greater than 15.2 SEER2* and heating efficiency rating equal to or greater than 7.5 HSPF2**.



Thinking about purchasing an electric vehicle (EV).  Consider installing an EV charger and receive a rebate from Corn Belt Energy. Corn Belt Energy offers a $200 rebate for the installation of a 240volt 50 amp EV circuit in an existing home.* New construction is not eligible for this rebate. Members must enroll in the 1 EV time-of-use electric rate. Click here to learn more.

For Corn Belt Energy’s standby power systems electric vehicle circuit installation instructions, click here.

*Must participate in Corn Belt Energy’s EV time of use rate to qualify.

Click here to learn more about Corn Belt Energy’s EV time of use rate and to enroll.

If you’re in the market for a new electric water heater, Corn Belt Energy offers several rebate options for members. You can purchase your water heater from any retailer, and we encourage you to buy an energy efficient model with good insulation. To qualify for the rebates, all water heaters must be 40 gallons or greater in capacity.
Current UnitPurchasingRebate Amount
Electric water heaterElectric water heater$100.00
Propane or natural gas water heater (or new construction)Electric water heater$300.00*
Propane or natural gas water heaterHybrid water heater$800.00
Electric water heaterHybrid water heater$400.00**
New constructionHybrid water heater$800.00**
*Rebate not to exceed purchase price **Minimum UEF of 3.3. If you install your new water heater on the basement floor, we suggest you set it on a 1″ or 2″ Styrofoam insulation pad to prevent heat from migrating to the floor.

Considering replacing your existing geothermal with a new geothermal system? Be sure to purchase a system with an electric backup and you will qualify for a $750 rebate.

Qualifying geothermermal heat pumps must meet or exceed the following efficiency rating:

  • Water to Air geothermal efficiency requirments of an EER* ≥ 21.1 and a COP** ≥ 4.1
  • Water to Water geothermal efficiency requirements of an EER ≥ and a COP ≥ 3.5  


* EER – Energy Efficiency Ratio: a measurement of the energy required by a cooling system as it attempts to maintain indoor comfort when the outdoor temperature is at a specific temperature—usually 95°F. The term EER is most commonly used when referring to window air conditioners and geothermal heat pumps. EER equals the number of Btu-per-hour worth of cooling provided at the specified outdoor temperature divided by the number of watts used to provide that level of cooling.

** COP – Coefficient of Performance: a measurement of a heat pump’s efficiency (in the heating mode) at a specific outdoor temperature—usually 47°F. A COP of 1.0 indicates that for each unit of energy being used, an equal amount of energy (in the form of heat) is being provided by the system. A heat pump with a COP of 3.0 would provide three times as much energy in heat as it consumes in electricity when the outdoor temperature is 47°F. COP is also sometimes used to measure the single-temperature cooling efficiency of chillers.

$75 rebate for the installation of a qualifying Wi-Fi thermostat.

Link to list of eligible thermostats:

List of qualifying Wi-Fi thermostats

There are several rebates and programs available for businesses including commerical and industrial buildings, schools and farm/ag operations. Click to learn more about progams offered by our power supplier, Wabash Valley Power Alliance.

For any questions about any of the above rebates, contact us 309-662-5330

Energy Efficiency Calculators & Resources

Looking for free calculators, videos and helpful websites that can show you how to save money and energy? Click here for our list of useful resources.

State and Local Resources

Click here for information on state and local resources.


Federal Tax Credits for Energy Efficiency

If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. Click here for a complete list of qualifying upgrades and purchases.

Illinois Home Weatherization Assistance Program (IHWAP)

Funded through the U.S. Department of Health and Human Services, the U.S. Department of Energy and the State of Illinois, IHWAP helps low-income families in Illinois who live at or below 150% of the federal poverty level. Weatherization program operators employ a wide array of testing devices to determine how the most energy can be saved and install energy-saving materials such as efficient furnaces, insulation, etc.

The average IHWAP participant is able to lower their annual energy bill by more than $300 per year. To learn more, contact your local community action agency.