Cost to Run a Heat Pump in New York
New York's average residential electricity rate is 29.9¢/kWh as of May 2026 — the 49th cheapest in the country, 63% above the U.S. average. At typical usage (8 hours/day), a heat pump here costs $218 per month.
Per hour
$0.90
at 1,000–5,000 W
Per day
$7.18
8 hours/day
Per month
$218
730 kWh
Per year
$2,619
8,760 kWh
By usage level in New York
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (4 hrs/day) | $3.59 | $109 | $1,310 |
| Typical (8 hrs/day) | $7.18 | $218 | $2,619 |
| Heavy (16 hrs/day) | $14.35 | $436 | $5,238 |
New York 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 York?
At New York's current average residential rate of 29.9¢/kWh (May 2026), a heat pump with typical usage costs about $7.18 per day, $218 per month, or $2,619 per year.
Is running a heat pump in New York more expensive than average?
Yes. New York's electricity costs about 63% more than the U.S. average, so the same usage costs $218 per month here versus $134 nationally.
What does electricity cost in New York right now?
New York residents pay an average of 29.9¢ per kWh as of May 2026 — the 49th cheapest rate of the 51 U.S. jurisdictions we track.