# Is a heat pump worth it in Colorado? Compare by electric utility

> As of November 2026: of 22 Colorado electric utilities, a heat pump comes out ahead at any quote for 0,
> it depends on quotes for 22, and like-for-like comes out ahead for 0
> (typical 1,800 sq ft home replacing both furnace and AC).

- Colorado average residential electricity: 16.6¢/kWh (EIA, last 12 months)
- Winter gas: $1.05/therm (EIA, Nov–Mar)
- Interactive page: https://meterwise.app/co/

## What to know about the Colorado numbers

- **Rebates not checked yet**: We haven't checked heat pump rebates in Colorado yet, so the numbers here leave them out. Utility and state programs can take thousands off a heat pump, so ask your utility and your contractor what's available.
- **Mostly average prices**: Only 45% of Colorado ZIP codes here are priced on a current utility tariff. The rest use the utility's average price from the U.S. Energy Information Administration, which is about two years old and doesn't show tiers, so the winter price of extra kWh is estimated. Enter the rate from a recent bill for a closer answer.
- **Time-of-use rates**: 4 utilities' tariffs here charge different prices by time of day. We assume heating and cooling use is spread evenly across the day, which can be off if most of yours falls in peak hours.
- **Regional fuel prices**: EIA doesn't publish a Colorado price for every fuel: heating oil uses the national average. Enter your own price if you heat with it.

## Utilities

"Heat pump vs. furnace + AC" is the heat pump's yearly running cost difference (− = cheaper to run).

| Utility | Price/kWh | vs. state | Default fuel | Heat pump vs. furnace + AC | Verdict |
|---|---|---|---|---|---|
| [Xcel Energy (Public Service Company of Colorado)](https://meterwise.app/co/xcel-energy-public-service-company-of-colorado/heat-pump-vs-furnace/index.md) | 17.0¢ | +2% | gas | +$80 | depends on quotes |
| [Black Hills Colorado Electric, LLC](https://meterwise.app/co/black-hills-colorado-electric-llc/heat-pump-vs-furnace/index.md) | 17.1¢ | +3% | gas | +$230 | depends on quotes |
| [Mountain View Elec Assn, Inc](https://meterwise.app/co/mountain-view-elec-assn-inc/heat-pump-vs-furnace/index.md) | 15.5¢ | -6% | gas | +$10 | depends on quotes |
| [CORE Electric Cooperative](https://meterwise.app/co/core-electric-cooperative/heat-pump-vs-furnace/index.md) | 15.0¢ | -9% | gas | +$70 | depends on quotes |
| [City of Colorado Springs](https://meterwise.app/co/city-of-colorado-springs/heat-pump-vs-furnace/index.md) | 13.4¢ | -19% | gas | −$90 | depends on quotes |
| [United Power, Inc](https://meterwise.app/co/united-power-inc/heat-pump-vs-furnace/index.md) | 15.8¢ | -5% | gas | +$30 | depends on quotes |
| [Poudre Valley REA, Inc](https://meterwise.app/co/poudre-valley-rea-inc/heat-pump-vs-furnace/index.md) | 12.2¢ | -26% | gas | −$100 | depends on quotes |
| [Southeast Colorado Power Assn](https://meterwise.app/co/southeast-colorado-power-assn/heat-pump-vs-furnace/index.md) | 17.2¢ | +4% | gas | −$20 | depends on quotes |
| [Mountain Parks Electric, Inc](https://meterwise.app/co/mountain-parks-electric-inc/heat-pump-vs-furnace/index.md) | 16.5¢ | +0% | gas | −$120 | depends on quotes |
| [Yampa Valley Electric Assn Inc](https://meterwise.app/co/yampa-valley-electric-assn-inc/heat-pump-vs-furnace/index.md) | 16.8¢ | +1% | gas | −$30 | depends on quotes |
| [Morgan County Rural Elec Assn](https://meterwise.app/co/morgan-county-rural-elec-assn/heat-pump-vs-furnace/index.md) | 14.4¢ | -13% | gas | +$10 | depends on quotes |
| [San Miguel Power Assn, Inc](https://meterwise.app/co/san-miguel-power-assn-inc/heat-pump-vs-furnace/index.md) | 17.2¢ | +4% | gas | −$50 | depends on quotes |
| [Delta Montrose Electric Assn](https://meterwise.app/co/delta-montrose-electric-assn/heat-pump-vs-furnace/index.md) | 15.0¢ | -10% | gas | +$20 | depends on quotes |
| [Highline Electric Assn](https://meterwise.app/co/highline-electric-assn/heat-pump-vs-furnace/index.md) | 14.1¢ | -15% | gas | −$140 | depends on quotes |
| [Holy Cross Electric Assn, Inc](https://meterwise.app/co/holy-cross-electric-assn-inc/heat-pump-vs-furnace/index.md) | 12.0¢ | -27% | gas | −$260 | depends on quotes |
| [K C Electric Association](https://meterwise.app/co/k-c-electric-association/heat-pump-vs-furnace/index.md) | 13.1¢ | -21% | gas | −$80 | depends on quotes |
| [Grand Valley Power](https://meterwise.app/co/grand-valley-power/heat-pump-vs-furnace/index.md) | 15.9¢ | -4% | gas | −$10 | depends on quotes |
| [San Luis Valley R E C, Inc](https://meterwise.app/co/san-luis-valley-r-e-c-inc/heat-pump-vs-furnace/index.md) | 18.4¢ | +11% | gas | +$90 | depends on quotes |
| [Y-W Electric Assn Inc](https://meterwise.app/co/y-w-electric-assn-inc/heat-pump-vs-furnace/index.md) | 15.6¢ | -6% | gas | −$50 | depends on quotes |
| [Empire Electric Assn, Inc](https://meterwise.app/co/empire-electric-assn-inc/heat-pump-vs-furnace/index.md) | 15.3¢ | -8% | gas | −$130 | depends on quotes |
| [La Plata Electric Assn, Inc](https://meterwise.app/co/la-plata-electric-assn-inc/heat-pump-vs-furnace/index.md) | 16.7¢ | +1% | gas | −$60 | depends on quotes |
| [High West Energy, Inc](https://meterwise.app/co/high-west-energy-inc/heat-pump-vs-furnace/index.md) | 13.0¢ | -21% | gas | −$180 | depends on quotes |

Data: https://meterwise.app/data/v1/utilities.json · Method: https://meterwise.app/about/index.md