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Heat Pump Water Heater Cost Calculator

A heat-pump water heater moves heat from surrounding air and can use much less electricity than resistance heating under suitable conditions.

600 W starting input 8 hr/day No sign-up

Typical starting estimate

$26.55/month144.0 kWh at 18.44¢/kWh

Your inputs

Calculate operating cost

watts
hours
days
$/kWh
EIA residential average price, not a utility-specific rate. Your bill’s all-in rate gives the best personal estimate.

Live estimate

Estimated monthly cost$26.55at 18.44¢ per kWh
Per day$0.89
Per year$323
Monthly use144.0 kWh
Transparent calculation(600 W ÷ 1,000) × 8 hr × 30 days × $0.184/kWh

Actual use can differ when equipment cycles or changes power. Measure at the wall when precision matters.

How the heat pump water heater estimate works

The calculator converts watts to kilowatts, multiplies by effective runtime, and then applies the electricity price. With the starting inputs, this heat pump water heater uses about 144.0 kWh per month.

600 W ÷ 1,000 × 8 hours × 30 days × $0.1844/kWh = $26.55

Ambient temperature, installation volume, demand, operating mode, setpoint, and backup-element use determine savings.

How runtime changes the estimate

Daily runtimeMonthly useMonthly cost
1 hour/day18.0 kWh$3.32
4 hours/day72.0 kWh$13.28
8 hours/day144.0 kWh$26.55

These scenarios assume the device draws the full starting wattage for the entire runtime. Cycling and variable-speed equipment should use effective runtime or measured kWh.

Estimated monthly cost in high-price states

State2026-05 average priceEstimated cost
Hawaii52.00¢/kWh$74.88/mo
California33.25¢/kWh$47.88/mo
New York29.93¢/kWh$43.10/mo
Rhode Island29.46¢/kWh$42.42/mo

Practical ways to reduce cost

  • Use heat-pump or hybrid mode when recovery time allows.
  • Keep the air filter clean.
  • Avoid installations that become too cold or confined.

Compare related equipment

Electric Tank Water Heater405.0 kWh/mo →Tankless Electric Water Heater405.0 kWh/mo →

Frequently asked questions

How much electricity does a heat pump water heater use?

Using a 600-watt starting input for 8 hours per day and 30 days per month produces an estimate of 144.0 kWh per month. Actual use can differ because equipment may cycle or change power.

How much does it cost to run a heat pump water heater each month?

At the latest 2026-05 U.S. residential average price of 18.44 cents per kWh, the starting estimate is $26.55 per month. Replace the inputs with your own numbers for a personal estimate.

What number should I use for the electricity price?

Divide the total electric charges on your latest bill by the total kWh used for an all-in price. State averages are useful for comparison but are not utility-specific rates.

Data source

U.S. Energy Information Administration, Electricity Retail Sales, residential average price. Latest monthly data: 2026-05; comparison baseline: 2025 annual. Verified 2026-08-05. Monthly prices can vary seasonally and are not utility-specific rates.

View EIA data