Cost to Run a Tankless Electric Water Heater in Colorado
Colorado's average residential electricity rate is 16.5¢/kWh as of April 2026 — the 26th cheapest in the country, 12% below the U.S. average. At typical usage (0.7 hours/day), a tankless electric water heater here costs $63.20 per month.
Per hour
$2.97
at 13,000–27,000 W
Per day
$2.08
0.7 hours/day
Per month
$63.20
383 kWh
Per year
$759
4,599 kWh
By usage level in Colorado
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (0.5 hrs/day) | $1.04 | $31.60 | $379 |
| Typical (0.7 hrs/day) | $2.08 | $63.20 | $759 |
| Heavy (1.4 hrs/day) | $4.16 | $126 | $1,518 |
Colorado vs. the rest of the country
Monthly cost at typical usage.
Frequently asked questions
How much does it cost to run a tankless electric water heater in Colorado?
At Colorado's current average residential rate of 16.5¢/kWh (April 2026), a tankless electric water heater with typical usage costs about $2.08 per day, $63.20 per month, or $759 per year.
Is running a tankless electric water heater in Colorado more expensive than average?
No — it's cheaper. Colorado's rate is about 12% below the U.S. average: $63.20 per month here versus $72.01 nationally.
What does electricity cost in Colorado right now?
Colorado residents pay an average of 16.5¢ per kWh as of April 2026 — the 26th cheapest rate of the 51 U.S. jurisdictions we track.