Cost to Run a Heat Pump 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 (8 hours/day), a heat pump here costs $111 per month.
Per hour
$0.46
at 1,000–5,000 W
Per day
$3.65
8 hours/day
Per month
$111
730 kWh
Per year
$1,332
8,760 kWh
By usage level in New Mexico
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (4 hrs/day) | $1.82 | $55.45 | $666 |
| Typical (8 hrs/day) | $3.65 | $111 | $1,332 |
| Heavy (16 hrs/day) | $7.30 | $222 | $2,663 |
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 15.2¢/kWh (April 2026), a heat pump with typical usage costs about $3.65 per day, $111 per month, or $1,332 per year.
Is running a heat pump in New Mexico more expensive than average?
No — it's cheaper. New Mexico's rate is about 19% below the U.S. average: $111 per month here versus $137 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.