Cost to Run a Heat Pump Water Heater in New Mexico
New Mexico's average residential electricity rate is 15.2¢/kWh as of April 2026 — the 17th cheapest in the country, 19% below the U.S. average. At typical usage (3 hours/day), a heat pump water heater here costs $13.86 per month.
Per hour
$0.15
at 400–1,500 W
Per day
$0.46
3 hours/day
Per month
$13.86
91 kWh
Per year
$166
1,095 kWh
By usage level in New Mexico
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (1.5 hrs/day) | $0.23 | $6.93 | $83.22 |
| Typical (3 hrs/day) | $0.46 | $13.86 | $166 |
| Heavy (6 hrs/day) | $0.91 | $27.72 | $333 |
New Mexico vs. the rest of the country
Monthly cost at typical usage.
Frequently asked questions
How much does it cost to run a heat pump water heater in New Mexico?
At New Mexico's current average residential rate of 15.2¢/kWh (April 2026), a heat pump water heater with typical usage costs about $0.46 per day, $13.86 per month, or $166 per year.
Is running a heat pump water heater in New Mexico more expensive than average?
No — it's cheaper. New Mexico's rate is about 19% below the U.S. average: $13.86 per month here versus $17.15 nationally.
What does electricity cost in New Mexico right now?
New Mexico residents pay an average of 15.2¢ per kWh as of April 2026 — the 17th cheapest rate of the 51 U.S. jurisdictions we track.