diff --git a/charts/prometheus-ipmi-exporter/Chart.yaml b/charts/prometheus-ipmi-exporter/Chart.yaml
index 410ad6fd7f8a..10bb31412339 100644
--- a/charts/prometheus-ipmi-exporter/Chart.yaml
+++ b/charts/prometheus-ipmi-exporter/Chart.yaml
@@ -4,9 +4,9 @@ description: This is an IPMI exporter for Prometheus.
 
 type: application
 
-version: 0.1.0
+version: 0.2.0
 
-appVersion: "1.6.1"
+appVersion: "v1.7.0"
 
 keywords:
   - metrics
diff --git a/charts/prometheus-ipmi-exporter/templates/deployment.yaml b/charts/prometheus-ipmi-exporter/templates/deployment.yaml
index 1868cc877764..6f5db0d3e987 100644
--- a/charts/prometheus-ipmi-exporter/templates/deployment.yaml
+++ b/charts/prometheus-ipmi-exporter/templates/deployment.yaml
@@ -26,7 +26,7 @@ spec:
     spec:
       containers:
         - name: ipmi-exporter
-          image: "{{ .Values.image.repository }}:{{ .Values.image.tag }}"
+          image: "{{ .Values.image.repository }}:{{ .Values.image.tag | default .Chart.AppVersion }}"
           imagePullPolicy: {{ .Values.image.pullPolicy }}
           args:
             - "--config.file"
diff --git a/charts/prometheus-ipmi-exporter/values.yaml b/charts/prometheus-ipmi-exporter/values.yaml
index a51795cb842c..17c5ed59aff3 100644
--- a/charts/prometheus-ipmi-exporter/values.yaml
+++ b/charts/prometheus-ipmi-exporter/values.yaml
@@ -6,7 +6,8 @@ replicaCount: 1
 
 image:
   repository: registry.hub.docker.com/prometheuscommunity/ipmi-exporter
-  tag: v1.6.1
+  # if not set appVersion field from Chart.yaml is used
+  tag: ""
   pullPolicy: IfNotPresent
 
 # Name of an externally managed secret (in the same namespace) containing the ipmi credentials as keys `ipmi-user` and `ipmi-password`.