Cost to Run a Heat Pump Water Heater in New Mexico
New Mexico's average residential electricity rate is 14.1¢/kWh as of May 2026 — the 9th cheapest in the country, 23% below the U.S. average. At typical usage (3 hours/day), a heat pump water heater here costs $12.86 per month.
Per hour
$0.14
at 400–1,500 W
Per day
$0.42
3 hours/day
Per month
$12.86
91 kWh
Per year
$154
1,095 kWh
By usage level in New Mexico
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (1.5 hrs/day) | $0.21 | $6.43 | $77.20 |
| Typical (3 hrs/day) | $0.42 | $12.86 | $154 |
| Heavy (6 hrs/day) | $0.85 | $25.72 | $309 |
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 14.1¢/kWh (May 2026), a heat pump water heater with typical usage costs about $0.42 per day, $12.86 per month, or $154 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 23% below the U.S. average: $12.86 per month here versus $16.78 nationally.
What does electricity cost in New Mexico right now?
New Mexico residents pay an average of 14.1¢ per kWh as of May 2026 — the 9th cheapest rate of the 51 U.S. jurisdictions we track.