Cost to Run a Heat Pump in New Mexico
New Mexico's average residential electricity rate is 16.1¢/kWh as of July 2026 — the 26th cheapest in the country, 12% below the U.S. average. At typical usage (8 hours/day), a heat pump here costs $117 per month.
Per hour
$0.48
at 1,000–5,000 W
Per day
$3.86
8 hours/day
Per month
$117
730 kWh
Per year
$1,410
8,760 kWh
By usage level in New Mexico
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (4 hrs/day) | $1.93 | $58.73 | $705 |
| Typical (8 hrs/day) | $3.86 | $117 | $1,410 |
| Heavy (16 hrs/day) | $7.73 | $235 | $2,821 |
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 in New Mexico?
At New Mexico's current average residential rate of 16.1¢/kWh (July 2026), a heat pump with typical usage costs about $3.86 per day, $117 per month, or $1,410 per year.
Is running a heat pump in New Mexico more expensive than average?
No — it's cheaper. New Mexico's rate is about 12% below the U.S. average: $117 per month here versus $134 nationally.
What does electricity cost in New Mexico right now?
New Mexico residents pay an average of 16.1¢ per kWh as of July 2026 — the 26th cheapest rate of the 51 U.S. jurisdictions we track.