This paper presents a novel application for directly estimating indoor light and heat maps from captured indoor-outdoor High Dynamic Range (HDR) panoramas. In our image-based rendering method, the indoor panorama is used to estimate the 3D room layout, while the corresponding outdoor panorama serves as an environment map to infer spatially-varying light and material properties. We establish a connection between indoor light transport and heat transport and implement transient heat simulation to generate indoor heat panoramas. The sensitivity analysis of various thermal parameters is conducted, and the resulting heat maps are compared with the images captured by the thermal camera in real-world scenarios. This digital application enables automatic indoor light and heat estimation without manual inputs and cumbersome field measurements.