Heat Pump Water Heater in Memphis — $143/yr to Run (13.1¢/kWh)
Your heat pump water heater in Memphis costs about $12/month at 13.1¢/kWh. See daily, monthly, and yearly costs, plus tips to cut your bill.
Memphis, TN Electricity Rate
13.1¢/kWh
Utility: Memphis Light, Gas & Water
+1% vs national avg
National avg: 13.0¢/kWh
Daily Cost
$0.39
3.0 kWh/day
Monthly Cost
$11.95
91 kWh/mo
Annual Cost
$143
1,095 kWh/yr
Lifetime (15yr)
$2,152
energy only
Monthly Cost Breakdown in Memphis
| Period | kWh | Memphis Cost | National Avg | Difference |
|---|---|---|---|---|
| Daily | 3.0 | $0.39 | $0.39 | +$0.00 |
| Weekly | 21.0 | $2.75 | $2.73 | +$0.02 |
| Monthly | 91.3 | $11.95 | $11.86 | +$0.09 |
| Quarterly | 273.8 | $35.86 | $35.59 | +$0.27 |
| Annual | 1095.0 | $143.44 | $142.35 | +$1.09 |
Customize Your Heat Pump Water Heater Cost
Adjust usage hours and electricity rate to calculate your exact cost in Memphis.
Daily
$0.39
Monthly
$11.95
Annual
$143
15-Year
$2,152
Energy Saving Tips for Heat Pump Water Heater in Memphis
- ✓Memphis electricity rates are 1% above the national average — energy efficiency matters more here.
- ✓An ENERGY STAR Heat Pump Water Heater in Memphis saves ~$43/year compared to standard models.
- ✓A smart Heat Pump Water Heater with scheduling optimization can save ~$29/year at Memphis 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 Memphis saves approximately $43/year at local rates — $646 over the appliance lifetime.
Highest-Cost Appliances in Memphis, TN
See which appliances cost the most to run at Memphis's 13.1¢/kWh electricity rate.
Level 2 EV Charger (240V)
Transportation · 7,200W
$1,698/yr
$141.48/mo
Electric Furnace
HVAC · 10,000W
$1,179/yr
$98.25/mo
Electric Tankless Water Heater
Water Heating · 18,000W
$861/yr
$71.72/mo
EV Charger (Level 2)
Garage · 7,200W
$849/yr
$70.74/mo
Boiler (Electric)
HVAC · 6,000W
$707/yr
$58.95/mo
Electric Water Heater (Tank)
Water Heating · 4,500W
$646/yr
$53.79/mo
Water Heater (Tank Electric)
Water Heating · 4,500W
$646/yr
$53.79/mo
Heat Pump
HVAC · 2,400W
$503/yr
$41.92/mo
Heat Pump Water Heater Cost in Other Tennessee Cities
| City | Rate | Annual Cost | vs Memphis |
|---|---|---|---|
| Memphis (current) | 13.1¢ | $143 | — |
| Nashville | 12.0¢ | $131 | $-12 |
| Knoxville | 12.0¢ | $131 | $-12 |
| Chattanooga | 12.3¢ | $135 | $-9 |
| Clarksville | 11.3¢ | $124 | $-19 |
| Murfreesboro | 12.7¢ | $139 | $-4 |
| Franklin | 12.5¢ | $137 | $-7 |
| Johnson City | 11.9¢ | $130 | $-13 |
| Jackson | 9.4¢ | $103 | $-40 |
Heat Pump Water Heater Energy Cost FAQ — Memphis, TN
Understanding Heat Pump Water Heater Energy Costs in Memphis, TN
In a major metro like Memphis, electricity demand is high and rates reflect the cost of maintaining infrastructure for 0.6 million residents. Running a low-draw appliance like the Heat Pump Water Heater (500W) at Memphis's rate of 13.1¢/kWh costs approximately $143 per year — $1 more than the national average of $142.
Memphis rates are 1% above the national average — a modest premium that adds $1 per year to Heat Pump Water Heater operating costs. Over the appliance's 15-year lifespan, that's $16 in cumulative extra spending versus the national average.
Memphis's cost of living index of 87 is below the national average, and electricity costs reflect that affordability. The Heat Pump Water Heater adds $11.95/month to a typical bill of $152. Upgrading to an ENERGY STAR Heat Pump Water Heater can cut energy use by up to 30%, saving approximately $43 per year at Memphis rates.
In Memphis's warm climate (avg 71°F), HVAC-related appliances tend to run more frequently, compounding energy costs. A Heat Pump Water Heater produces approximately 0.78 tons of CO2 annually at typical usage. Memphis 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 Memphis.
Compare All Energy Costs in Memphis
See energy costs for 168+ household appliances at Memphis's local electricity rate.