Heat Pump in Denver — $557/yr to Run (14.5¢/kWh)
Your heat pump in Denver costs about $46/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
$2.78
19.2 kWh/day
Monthly Cost
$46.40
320 kWh/mo
Annual Cost
$557
3,840 kWh/yr
Lifetime (15yr)
$8,352
energy only
Monthly Cost Breakdown in Denver
| Period | kWh | Denver Cost | National Avg | Difference |
|---|---|---|---|---|
| Daily | 19.2 | $2.78 | $2.50 | +$0.29 |
| Weekly | 134.4 | $19.49 | $17.47 | +$2.02 |
| Monthly | 320.0 | $46.40 | $41.60 | +$4.80 |
| Quarterly | 960.0 | $139.20 | $124.80 | +$14.40 |
| Annual | 3840.0 | $556.80 | $499.20 | +$57.60 |
Customize Your Heat Pump Cost
Adjust usage hours and electricity rate to calculate your exact cost in Denver.
Daily
$2.78
Monthly
$46.40
Annual
$557
15-Year
$8,352
Energy Saving Tips for Heat Pump in Denver
- ✓Denver electricity rates are 12% above the national average — energy efficiency matters more here.
- ✓An ENERGY STAR Heat Pump in Denver saves ~$111/year compared to standard models.
- ✓A smart Heat Pump with scheduling optimization can save ~$111/year at Denver rates.
- ✓Denver's warm climate (avg 68.9°F) means higher cooling costs — consider ceiling fans to supplement.
- ✓Keep outdoor unit clear of debris
- ✓Use backup heat only when necessary
ENERGY STAR Savings: Upgrading to an ENERGY STAR Heat Pump in Denver saves approximately $111/year at local rates — $1,670 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
Hot Tub / Spa
Pool & Spa · 3,000W
$522/yr
$43.50/mo
Heat Pump Cost in Other Colorado Cities
| City | Rate | Annual Cost | vs Denver |
|---|---|---|---|
| Denver (current) | 14.5¢ | $557 | — |
| Colorado Springs | 13.7¢ | $526 | $-31 |
| Aurora | 15.4¢ | $590 | +$33 |
| Fort Collins | 13.7¢ | $525 | $-31 |
| Lakewood | 13.9¢ | $534 | $-23 |
| Thornton | 15.0¢ | $576 | +$20 |
| Arvada | 14.8¢ | $570 | +$13 |
| Westminster | 15.4¢ | $593 | +$36 |
| Pueblo | 14.8¢ | $570 | +$13 |
Heat Pump Energy Cost FAQ — Denver, CO
Understanding Heat Pump 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 high-draw appliance like the Heat Pump (2,400W) at Denver's rate of 14.5¢/kWh costs approximately $557 per year — $58 more than the national average of $499.
Denver rates are 12% above the national average — a modest premium that adds $58 per year to Heat Pump operating costs. Over the appliance's 15-year lifespan, that's $864 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's monthly cost of $46.40 represents a typical share of the average Denver electric bill of $145/month. Upgrading to an ENERGY STAR Heat Pump can cut energy use by up to 20%, saving approximately $111 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 produces approximately 2.74 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.