How much does a heat pump cost per month in New Mexico?

About $28.96 a month, assuming 2,400 W at a 60% duty cycle, 10 hours a day, 150 days a year at 16.09¢/kWh.

How many kilowatt-hours does a heat pump use?

Roughly 2,160 kWh a year under these assumptions, or 1.44 kWh for every hour it runs.

Is that expensive compared with other states?

New Mexico has the 26th most expensive average residential rate in the country, so this appliance costs less here than the U.S. average of $395 a year.

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Cost to run a heat pump in New Mexico (July 2026 rates)

At 16.09¢ per kilowatt-hour — New Mexico's average residential price in July 2026 — running a heat pump costs $348 a year. That is 12% less than the national average of $395. New Mexico's residential rate is up 1.8% from July 2025, which moves this appliance from $341 to $348 a year.

Per hour: 23.2¢
Per day of use: $2.32
Per month: $28.96
Per year: $348

Assumption: 2,400 W at a 60% duty cycle, 10 hours a day, 150 days a year — 2,160 kWh a year. A mid-size ducted heat pump in heating mode. It moves heat rather than making it, delivering two to four units of heat per unit of electricity until the outdoor temperature drops far enough to trigger backup resistance strips. Use the calculator to swap in the numbers from your own model.

How New Mexico compares

New Mexico pays 16.09¢/kWh, the 26th most expensive residential electricity of the 51 U.S. jurisdictions EIA reports. For this appliance that works out to $47.95 less a year than the typical U.S. household pays for the same use. Running the same heat pump costs $275 a year in Louisiana and $1,037 in Hawaii, so where you live changes this bill by $762 a year.

State	Rate	Per month	Per year
Iowa	15.99¢	$28.78	$345
Missouri	16.09¢	$28.96	$348
New Mexico	16.09¢	$28.96	$348
Georgia	16.27¢	$29.29	$351
Alabama	16.40¢	$29.52	$354

States ranked by average residential price, cheapest first. See all 51 states for a heat pump.

What else costs about the same in New Mexico

Central air conditioner$378 a year in NM Hot tub$402 a year in NM Pool pump$278 a year in NM

Cutting the number down

Auxiliary resistance heat is the expensive mode. Big thermostat setbacks trigger it on recovery, so a steady setting usually beats aggressive setbacks.
Cold-climate models hold useful capacity well below freezing; older units fall back to strips much sooner.
Keeping the outdoor coil clear of snow, leaves and shrubs protects the efficiency you paid for.

Questions

How much does a heat pump cost per month in New Mexico?: About $28.96 a month, assuming 2,400 W at a 60% duty cycle, 10 hours a day, 150 days a year at 16.09¢/kWh.
How many kilowatt-hours does a heat pump use?: Roughly 2,160 kWh a year under these assumptions, or 1.44 kWh for every hour it runs.
Is that expensive compared with other states?: New Mexico has the 26th most expensive average residential rate in the country, so this appliance costs less here than the U.S. average of $395 a year.