Get Incentives for Energy-saving Projects Designed for Your Company
For commercial and industrial businesses throughout Indiana, our Custom Incentives program offers a flexible, tailored approach to improving energy efficiency. If you’re considering upgrades to your facility, our team of Energy Managers or your authorized Trade Ally will work with you to identify the most impactful opportunities for energy savings and help implement the right solutions.
The Custom Incentives program provides engineering support and financial incentives for projects that do not fit within our Prescriptive or Small Business programs. Qualifying projects may earn up to $0.07 per kWh saved during the first year of operation, potentially covering up to 75% of project costs.
How do I get started?
Start your energy-saving journey by scheduling a free, on-site evaluation by I&M Energy Managers or contacting a trusted Trade Ally through our Find a Trade Ally Directory. Once you’ve completed your assessment, who will guide you through the following steps:
- Submit an application for pre-approval (if applicable) and receive an incentive offer.
- Purchase and install approved energy-saving measures.
- Submit a completed final application form within 120 days from acceptance of the incentive offer or before the program deadline (whichever comes first).
- A review will be performed and an incentive check will be sent in up to 6 weeks.
Case Studies:
GAST Manufacturing, Inc. specializes in offering cost effective air-moving solutions for a wide variety of industries, including healthcare, environmental cleanup applications and industrial manufacturing. To help save on overall energy costs, GAST met with Indiana Michigan Power (I&M) to discuss their energy efficiency opportunities. Through conversation, I&M recommended a Find & Fix compressed air leak study and repair. This two-step study first identifies where air leaks are present, then repairs them to minimize energy waste.
Working with one of our participating trade allies, the study identified over 190 leaks, of which more than 75% were able to be immediately repaired. The result, over 779,000 kWh saved annually by repairing the compressed air leaks. That’s over $93,500 saved each year!
Project Results and Stats
Industry:
Manufacturing
Product:
Quality air-moving solutions
Time to install:
Two Weeks
Estimated annual energy savings:
Over 779,000 kWh
Estimated annual cost savings:
$93,500
Project payback:
4 months
Rebate amount:
$22,500
Global manufacturing leader JVIS and their sister company, Nova, met with Indiana Michigan Power (I&M) to discuss their energy efficiency opportunities after working with the state of Michigan on similar energy waste reduction initiatives. Upon learning that similar rebates were available through I&M, they implemented multiple energy-saving upgrades, including barrel insulation for injection molding projects. JVIS worked closely with a Trade Ally to measure their machines. Within a month, custom barrel insulation wraps were installed and saving JVIS energy and money.
The barrel insulation is estimated to reduce the facility’s annual energy by over 2,070,000 kWh, saving JVIS and Nova over $225,000 per year. Since completing the project, JVIS and Nova are planning to partner with I&M to make other energy-efficient upgrades.
Project Results and Stats
Industry:
Manufacturing
Product:
Barrel insulation for injection molding
Time to install:
One month
Estimated annual energy savings:
Over 2,070,000 kWh
Estimated annual cost savings:
Over $225,000
Project payback:
One year
Rebate amount:
$128,690
FAQs
- Must be an I&M commercial and industrial customer.
- Pre-approvals are required before equipment is purchased.
- Projects may require pre- and post-monitoring to verify energy savings.
- Lighting fixtures must be DLC or Energy Star certified, for proven energy savings.
- Projects must be complete and final documentation received within 90 days from acceptance of the incentive offer or before the program deadline (whichever comes first).
- Applications must be received by December 15, 2026 to complete custom projects. Applications after this date will be processed at 2027 incentive levels.
The incentive caps in Indiana are:
- $250,000 per site and $500,000 per company.
- Funds are limited and paid on a first-come, first-served basis.
Yes. We can help with a free on-site energy evaluation. Contact us to schedule an appointment.
Please allow up to 6 weeks for your incentive check to arrive. It will be mailed to the payee designated on the Application. This can be the customer or the contractor/Trade Ally.
Please contact us for incentive status.
Explore More Ways to Save
Delivering incentives directly through distributors. It helps customers upgrade to energy-efficient HVAC and water heating equipment at a more affordable price.
We offer energy-saving solutions for multi-family property owners to reduce operating cost, improve comfort, and add value to their communities. (Michigan Only)
Energy Management Tools allow you to manage, track and optimize your company’s energy use.
I&M offers a variety of predetermined cash rebates to help cover the cost of energy-saving commercial projects.
Our Custom Incentives make it easy to improve your bottom line and save energy with a range of energy-saving projects.
Small business owners can get rebates for energy-saving upgrades.
Our program provides training, motivation and engineering support to move your company culture toward sustainability.
Product offerings and rebates are subject to change without notice. See the specific rebate application for Terms & Conditions.