Is Electrification Worth It in Connecticut?

Connecticut has expensive everything. Gas, electric, heating oil—it's all pricey.

Electricity runs $0.22/kWh from Eversource. Natural gas is $1.85/therm. Heating oil costs $3.50-4.00/gallon. You need serious heating (5,600 degree days in Hartford) and meaningful cooling. This is exactly the situation where heat pumps shine because you're comparing expensive electricity to even more expensive fossil fuels.

Get a cold-climate heat pump. Connecticut's Energize CT program offers up to $10,000 in combined rebates for heat pump + weatherization + water heater. If you're heating with oil, you'll save $1,200-1,800/year. Even with gas, you'll probably save $400-700. Payback typically 4-6 years after incentives.

Updated December 2024Data from EIA, DSIRE, NREL
Heat Pump Payback
Not Recommended
With incentives
Annual Savings
$2,035
Full electrification
Available Incentives
$12,250
Federal + state + utility
CO₂ Reduction
14.3 tons
Per year

Connecticut Energy Costs

Electricity Rate
$0.262/kWh
Natural Gas Rate
$1.95/therm
Average Electric Bill
$185/month
Average Gas Bill
$112/month
Climate Zone
cold
Heating Degree Days
5,800
Cooling Degree Days
750

Visual ROI Analysis

Payback Period Comparison

Lower is better • Shortest payback = fastest return on investment

Annual Savings Comparison

Higher is better • More annual savings = greater long-term benefit

Cumulative Net Savings Over Time

Point where line crosses $0 = payback achieved • Steeper line = faster savings growth

Return on Investment by Upgrade

🌡️

Heat Pump HVAC

Upfront Cost$12,000 - $22,000
Total Incentives-$3,500
Net Cost$8,500 - $18,500
Annual Savings$-487/yr
Payback PeriodNot Recommended
Lifetime ROI-41%
CO₂ Reduction4.7 tons/yr
☀️

Solar Panels

Upfront Cost$15,000 - $30,000
Total Incentives-$4,500
Net Cost$10,500 - $21,000
Annual Savings$1,698/yr
Payback Period9.7 years
Lifetime ROI220%
CO₂ Reduction3.1 tons/yr
💧

Heat Pump Water Heater

Upfront Cost$2,500 - $4,500
Total Incentives-$2,750
Net Cost$-250 - $1,750
Annual Savings$192/yr
Payback Period5.6 years
Lifetime ROI64%
CO₂ Reduction1.8 tons/yr

EV Charger + Electric Vehicle

Upfront Cost$800 - $2,500
Total Incentives-$1,500
Net Cost$-700 - $1,000
Annual Savings$632/yr
Payback Period0.5 years
Lifetime ROI846%
CO₂ Reduction4.8 tons/yr

Full Electrification Package

Total Upfront Cost
$30,300 - $59,000
Total Incentives
-$12,250
Net Cost After Incentives
$18,050 - $46,750
Annual Energy Savings
$2,035/year
Lifetime Savings (18 years)
$36,624
Simple Payback
19.1 years
💡

Best ROI for Connecticut

Based on your state's energy costs and climate, EV Charger offers the best return on investment with an average payback of 0.5 years and an ROI of 846%.

0.0 years slower than average compared to the national average.

Ready to electrify your Connecticut home?

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