Calculate your home heating cost of following fuels: gas, oil, propane & electricity, using a Hot Air Furnace, Boiler (standard & condensing), Air Source & Geothermal Heat Pump.
Our calculator provides the most updated local energy costs in your state, which are pre populated in the price fields. However, your actual cost may be different, depending on your supplier.
Calculate Heating Costs & Energy Savings in New Mexico
Cheapest Heating Fuel:
See costs in your area Start Here - Enter Your Zip Code
Heating costs updated on September 15, 2023.
RESULTS: You will get a full season (6 months, from mid-October through mid-April) cost of heating your home, cheapest fuel for your heating system type, as well as estimated prices for replacing / installing a new heating system.
To get an accurate cost estimate, set your house square footage, adjust local prices for Heating Oil, Natural Gas, Propane, and Electricity, choose your heating equipment type, home insulation grade & efficiency rating of your heating system.
¹ Results for electric strip (baseboard) heating are calculator based on your home's Heat Load, excluding any flue gas, duct & radiator loses, which are present in hydronic and forced air heating systems (boilers, furnaces, Geothermal Heat Pumps), since nominal efficiency of electric resistance heating is 100%, and is calculated at 3412 BTUs / 1 kW.
² Results for Heat Pump presume a 2.9 COP Ductless Heat Pump system, which is typical for multi-zone Hyper Heat systems from Fujitsu, Mitsubishi, Daikin, LG, and other top tier manufacturers, and is calculated at 9895 BTUS / 1 kW.
What is COP? COP or Coefficient of Performance is a fancy acronym for a multiplier of efficiency of a HEAT PUMP system VS Resistive Electric Baseboard heating.
Example: Resistive Electric Heater produces 3412 BTUs of Heat for 1 kW (1000 Watts) of power usage. A heating system with 3.0 COP will provide 3 times the heat output for each 1 kW of electricity that it uses. In our case 3412 * 3 = 10236 BTUs per 1 kW.
Bottom line - a 3 COP heat pump is 3 times as efficient as Electric Baseboards or a space heater!
Here is how much different residential Heating Fuels Cost in your state (New Mexico) as well as US Average. Breakdown of Heating Energy Costs, by fuel type: Natural Gas, #2 Fuel Oil (heating oil), Propane, and Electricity.
|US Avg:||$1.94 / Therm||$4.54 / Gal||$2.67 / Gal||$0.161 / kWh|
|New Mexico:||$1.24 / Therm||$4.81 / Gal||$2.52 / Gal||$0.139 / kWh|
Learn how to get "Almost Free" heating and cooling when you combine High Efficiency Ductless Heat Pumps (with -15°F Low Temp Heating) and large enough Solar PV array, which is financed with fixed rate loan - your energy savings will in most cases be higher than the loan payment!
Prices above are as follows:
Natural Gas - $/Therm
Heating Oil and Propane - $/Gallon
Electricity - $/kWh.
For natural gas priced in CCF or MCF, see below.
* We use a Geolocation to identify your state. However, it's not always accurate. Therefore, you may need to adjust your local prices to correct values (see table at the bottom).
Additionally, prices provided for your state are AVERAGE for your whole state, and may differ greatly from one part of the state to another. We included local prices for your convenience. However, for accuracy purposes, it is ideal for end user to correct these prices to what local suppliers actually charge!
To get your accurate rate, refer to you Electric, and Gas (or Oil/Propane) bill.
How to use Heating Fuel Cost Calculator
US Energy Costs table by State:
Here is the price table of Heating Fuels such as Natural Gas, Fuel Oil, Propane and Electricity, for each state, including Washington DC, AL and HI, as well as US average.
Natural Gas prices are in THERMS, which is an equivalent of about 100,000 BTUs, but can easily be converted to 100/1000 Cu. Ft. See how to do it below the price table.
NOTE for MA Residents: We have adjusted Massachusetts electric rate from $0.246 to $0.305 / kWh (20% increase), which went into effect on Jan 1, 2022, per EverSource rates page.
|Gas||#2 Fuel Oil||Propane||Electricity|
|District of Columbia||$1.91/therm||$4.42/gal||$3.23/gal||$0.165/kWh|
** NOTE: If your gas company charges you in units other than therms here are local NM and US average costs for natural gas in other common delevery units:
COMMON Gas measurement units:
CCF = 100 Cubic Ft.
MCF = 1000 Cubic Ft.
Price per CCF (in NM): $1.28
Price per MCF (in NM): $12.84
Price per CCF (US Average): $1.28
Price per MCF (US Average): $12.84
One therm is almost the same as 1 CCF. However, "almost the same" is the key here!
The heat content of Therm is 99976 BTUs, while 1 CCF has 103675.112 BTUs, and 1 MCF has 1036751.12 BTUs.
Why Are THERMS, CCF & MCF Important?
Our Heating Cost Calculator uses THERMS to estimate the cost of heating with natural gas. However, since every gas company uses their own units of calculating your cost of gas, it is important that you provide the correct unit cost, to get an accurate estimate.
Basically, there are approximately 3.7% more BTUs in 1 CCF vs 1 Therm, which means that you will need 3.7% fewer CCFs to produce same heat as if you calculated in therms.
- If your gas company is charging you CCF you should divide your Cost/CCF by 1.037, and adjust the GAS Price divide your in the calculator.
- If your gas company is charging you MCF you should divide your Cost/MCF by 10.37, and adjust the GAS Price divide your in the calculator.
- If you currently do not use Natural Gas, then you don’t need to do anything.
Propane vs Natural Gas Cost
Generally, heating with propane is significantly more expensive that using natural gas. The only time you would use propane is if you don’t have access to natural gas in your house.
At current US average price of $1.48 per therm (100,000 BTUs) of natural gas and propane costing $2.71 cents per gallon (91,500 BTUs), its about two times more expensive to heat with propane than with natural gas.
Prices will differ depending on your state, but the typical cost difference is 1.5 to 2 times more for heating with propane compared to gas.
Also, with natural gas you have a much wider selection of heating equipment that generally will cost 10-15% less.
If you have a choice always go with natural gas for home heating fuel.
Propane vs Oil
The current average US price of propane is $2.96 per 100,000 BTUs, and heating oil is $3.05 per 100,000 BTU’s.
While the prices are almost the same, oil heating equipment requires expensive annual maintenance and tune ups which will increase your overall operating cost by $200-300 a year minimum.
At the same time propane heating equipment will not need regular maintenance more than 4-5 years.
Also, propane heating equipment is about 10% more efficient than oil heating equipment, so you will be using less fuel to heat your home.