Heat Pump Water Heater in Denver — $159/yr to Run (14.5¢/kWh)
Your heat pump water heater in Denver costs about $13/month at 14.5¢/kWh. See daily, monthly, and yearly costs, plus tips to cut your bill.
Denver, CO Electricity Rate
14.5¢/kWh
Utility: Xcel Energy
+12% vs national avg
National avg: 13.0¢/kWh
Daily Cost
$0.43
3.0 kWh/day
Monthly Cost
$13.23
91 kWh/mo
Annual Cost
$159
1,095 kWh/yr
Lifetime (15yr)
$2,382
energy only
Monthly Cost Breakdown in Denver
| Period | kWh | Denver Cost | National Avg | Difference |
|---|---|---|---|---|
| Daily | 3.0 | $0.43 | $0.39 | +$0.04 |
| Weekly | 21.0 | $3.04 | $2.73 | +$0.31 |
| Monthly | 91.3 | $13.23 | $11.86 | +$1.37 |
| Quarterly | 273.8 | $39.69 | $35.59 | +$4.11 |
| Annual | 1095.0 | $158.77 | $142.35 | +$16.42 |
Customize Your Heat Pump Water Heater Cost
Adjust usage hours and electricity rate to calculate your exact cost in Denver.
Daily
$0.43
Monthly
$13.23
Annual
$159
15-Year
$2,382
Energy Saving Tips for Heat Pump Water Heater in Denver
- ✓Denver electricity rates are 12% above the national average — energy efficiency matters more here.
- ✓An ENERGY STAR Heat Pump Water Heater in Denver saves ~$48/year compared to standard models.
- ✓A smart Heat Pump Water Heater with scheduling optimization can save ~$32/year at Denver rates.
- ✓Keep in a warm area like a garage
- ✓Dont block airflow around unit
- ✓Use heat pump only mode for max savings
ENERGY STAR Savings: Upgrading to an ENERGY STAR Heat Pump Water Heater in Denver saves approximately $48/year at local rates — $714 over the appliance lifetime.
Highest-Cost Appliances in Denver, CO
See which appliances cost the most to run at Denver's 14.5¢/kWh electricity rate.
Level 2 EV Charger (240V)
Transportation · 7,200W
$1,879/yr
$156.60/mo
Electric Furnace
HVAC · 10,000W
$1,305/yr
$108.75/mo
Electric Tankless Water Heater
Water Heating · 18,000W
$953/yr
$79.39/mo
EV Charger (Level 2)
Garage · 7,200W
$940/yr
$78.30/mo
Boiler (Electric)
HVAC · 6,000W
$783/yr
$65.25/mo
Electric Water Heater (Tank)
Water Heating · 4,500W
$714/yr
$59.54/mo
Water Heater (Tank Electric)
Water Heating · 4,500W
$714/yr
$59.54/mo
Heat Pump
HVAC · 2,400W
$557/yr
$46.40/mo
Heat Pump Water Heater Cost in Other Colorado Cities
| City | Rate | Annual Cost | vs Denver |
|---|---|---|---|
| Denver (current) | 14.5¢ | $159 | — |
| Colorado Springs | 13.7¢ | $150 | $-9 |
| Aurora | 15.4¢ | $168 | +$10 |
| Fort Collins | 13.7¢ | $150 | $-9 |
| Lakewood | 13.9¢ | $152 | $-6 |
| Thornton | 15.0¢ | $164 | +$6 |
| Arvada | 14.8¢ | $162 | +$4 |
| Westminster | 15.4¢ | $169 | +$10 |
| Pueblo | 14.8¢ | $162 | +$4 |
Heat Pump Water Heater Energy Cost FAQ — Denver, CO
Understanding Heat Pump Water Heater Energy Costs in Denver, CO
In a major metro like Denver, electricity demand is high and rates reflect the cost of maintaining infrastructure for 0.7 million residents. Running a low-draw appliance like the Heat Pump Water Heater (500W) at Denver's rate of 14.5¢/kWh costs approximately $159 per year — $16 more than the national average of $142.
Denver rates are 12% above the national average — a modest premium that adds $16 per year to Heat Pump Water Heater operating costs. Over the appliance's 15-year lifespan, that's $246 in cumulative extra spending versus the national average.
With a cost of living index of 104, Denver is near the national median. The Heat Pump Water Heater's monthly cost of $13.23 represents a typical share of the average Denver electric bill of $145/month. Upgrading to an ENERGY STAR Heat Pump Water Heater can cut energy use by up to 30%, saving approximately $48 per year at Denver rates.
Denver's moderate climate (avg 68.9°F) helps keep seasonal energy cost swings manageable for most appliances. A Heat Pump Water Heater produces approximately 0.78 tons of CO2 annually at typical usage. Denver residents can reduce this footprint by choosing an ENERGY STAR certified unit, optimizing usage patterns, or investing in solar — see our solar savings calculator for Denver.
Compare All Energy Costs in Denver
See energy costs for 168+ household appliances at Denver's local electricity rate.