Cost to Run a Heat Pump 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 (8 hours/day), a heat pump here costs $103 per month.
Per hour
$0.42
at 1,000–5,000 W
Per day
$3.38
8 hours/day
Per month
$103
730 kWh
Per year
$1,235
8,760 kWh
By usage level in New Mexico
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (4 hrs/day) | $1.69 | $51.44 | $618 |
| Typical (8 hrs/day) | $3.38 | $103 | $1,235 |
| Heavy (16 hrs/day) | $6.77 | $206 | $2,470 |
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 14.1¢/kWh (May 2026), a heat pump with typical usage costs about $3.38 per day, $103 per month, or $1,235 per year.
Is running a heat pump in New Mexico more expensive than average?
No — it's cheaper. New Mexico's rate is about 23% below the U.S. average: $103 per month here versus $134 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.