Is Electrification Worth It in Oklahoma?

Oklahoma: Hot summers, cheap natural gas, and tornadoes.

You get 3,700 heating degree days and 2,000+ cooling degree days in Oklahoma City. Natural gas is dirt cheap ($0.85/therm) from all the local production. Electricity costs $0.11/kWh from OG&E. You need both heating and cooling, and both energy sources are inexpensive.

The economics here favor gas for heating + high-efficiency AC for cooling. But if you're replacing both systems anyway, a heat pump works fine and saves you the hassle of maintaining two systems. Payback will be 9-12 years—not amazing but not terrible. The real winner in Oklahoma? Solar. Tons of sun, decent net metering, and payback under 8 years.

Updated December 2024•Data from EIA, DSIRE, NREL
Heat Pump Payback
Not Recommended
With incentives
Annual Savings
$2,317
Full electrification
Available Incentives
$10,150
Federal + state + utility
CO₂ Reduction
12.8 tons
Per year

Oklahoma Energy Costs

Electricity Rate
$0.115/kWh
Natural Gas Rate
$1.28/therm
Average Electric Bill
$128/month
Average Gas Bill
$58/month
Climate Zone
mixed
Heating Degree Days
3,800
Cooling Degree Days
1,850
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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-$2,300
Net Cost$9,700 - $19,700
Annual Savings$78/yr
Payback PeriodNot Recommended
Lifetime ROI13%
CO₂ Reduction2.9 tons/yr
☀️

Solar Panels

Upfront Cost$15,000 - $30,000
Total Incentives-$4,500
Net Cost$10,500 - $21,000
Annual Savings$807/yr
Payback Period20.5 years
Lifetime ROI105%
CO₂ Reduction3.3 tons/yr
💧

Heat Pump Water Heater

Upfront Cost$2,500 - $4,500
Total Incentives-$2,200
Net Cost$300 - $2,300
Annual Savings$212/yr
Payback Period7.7 years
Lifetime ROI70%
CO₂ Reduction1.8 tons/yr
⚡

EV Charger + Electric Vehicle

Upfront Cost$800 - $2,500
Total Incentives-$1,150
Net Cost$-350 - $1,350
Annual Savings$1,220/yr
Payback Period0.5 years
Lifetime ROI1574%
CO₂ Reduction4.8 tons/yr

Full Electrification Package

Total Upfront Cost
$30,300 - $59,000
Total Incentives
-$10,150
Net Cost After Incentives
$20,150 - $48,850
Annual Energy Savings
$2,317/year
Lifetime Savings (18 years)
$41,710
Simple Payback
16.7 years
💡

Best ROI for Oklahoma

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 1574%.

0.0 years slower than average compared to the national average.

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