Heat Pump in Memphis — $503/yr to Run (13.1¢/kWh)
Your heat pump in Memphis costs about $42/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
$2.52
19.2 kWh/day
Monthly Cost
$41.92
320 kWh/mo
Annual Cost
$503
3,840 kWh/yr
Lifetime (15yr)
$7,546
energy only
Monthly Cost Breakdown in Memphis
| Period | kWh | Memphis Cost | National Avg | Difference |
|---|---|---|---|---|
| Daily | 19.2 | $2.52 | $2.50 | +$0.02 |
| Weekly | 134.4 | $17.61 | $17.47 | +$0.13 |
| Monthly | 320.0 | $41.92 | $41.60 | +$0.32 |
| Quarterly | 960.0 | $125.76 | $124.80 | +$0.96 |
| Annual | 3840.0 | $503.04 | $499.20 | +$3.84 |
Customize Your Heat Pump Cost
Adjust usage hours and electricity rate to calculate your exact cost in Memphis.
Daily
$2.52
Monthly
$41.92
Annual
$503
15-Year
$7,546
Energy Saving Tips for Heat Pump in Memphis
- ✓Memphis electricity rates are 1% above the national average — energy efficiency matters more here.
- ✓An ENERGY STAR Heat Pump in Memphis saves ~$101/year compared to standard models.
- ✓A smart Heat Pump with scheduling optimization can save ~$101/year at Memphis rates.
- ✓Memphis's warm climate (avg 71°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 Memphis saves approximately $101/year at local rates — $1,509 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
Hot Tub / Spa
Pool & Spa · 3,000W
$472/yr
$39.30/mo
Heat Pump Cost in Other Tennessee Cities
| City | Rate | Annual Cost | vs Memphis |
|---|---|---|---|
| Memphis (current) | 13.1¢ | $503 | — |
| Nashville | 12.0¢ | $460 | $-43 |
| Knoxville | 12.0¢ | $461 | $-42 |
| Chattanooga | 12.3¢ | $473 | $-30 |
| Clarksville | 11.3¢ | $435 | $-68 |
| Murfreesboro | 12.7¢ | $488 | $-15 |
| Franklin | 12.5¢ | $480 | $-23 |
| Johnson City | 11.9¢ | $457 | $-46 |
| Jackson | 9.4¢ | $363 | $-140 |
Heat Pump Energy Cost FAQ — Memphis, TN
Understanding Heat Pump 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 high-draw appliance like the Heat Pump (2,400W) at Memphis's rate of 13.1¢/kWh costs approximately $503 per year — $4 more than the national average of $499.
Memphis rates are 1% above the national average — a modest premium that adds $4 per year to Heat Pump operating costs. Over the appliance's 15-year lifespan, that's $58 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 adds $41.92/month to a typical bill of $152. Upgrading to an ENERGY STAR Heat Pump can cut energy use by up to 20%, saving approximately $101 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 produces approximately 2.74 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.