Is Electrification Worth It in Wyoming?

Wyoming: 7,400 heating degree days in Cheyenne, cheap gas, expensive electricity.

Natural gas costs $0.90/therm—some of the cheapest in America. Electricity runs $0.12/kWh. You need serious heating for 6+ months. Rocky Mountain Power offers small heat pump rebates ($400), but that won't move the needle much.

If you have natural gas, keep it. Wyoming's gas is too cheap for heat pumps to compete unless you're also replacing AC and value the system simplification. If you're heating with propane (common in rural areas), switching to a cold-climate heat pump saves $1,200-1,800/year. That's the only clear case here.

Updated December 2024Data from EIA, DSIRE, NREL
Heat Pump Payback
Not Recommended
With incentives
Annual Savings
$2,106
Full electrification
Available Incentives
$10,550
Federal + state + utility
CO₂ Reduction
14.3 tons
Per year

Wyoming Energy Costs

Electricity Rate
$0.118/kWh
Natural Gas Rate
$1.12/therm
Average Electric Bill
$122/month
Average Gas Bill
$68/month
Climate Zone
cold
Heating Degree Days
7,200
Cooling Degree Days
550

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-$2,500
Net Cost$9,500 - $19,500
Annual Savings$-26/yr
Payback PeriodNot Recommended
Lifetime ROI3%
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$765/yr
Payback Period21.6 years
Lifetime ROI99%
CO₂ Reduction3.1 tons/yr
💧

Heat Pump Water Heater

Upfront Cost$2,500 - $4,500
Total Incentives-$2,350
Net Cost$150 - $2,150
Annual Savings$159/yr
Payback Period10.2 years
Lifetime ROI54%
CO₂ Reduction1.8 tons/yr

EV Charger + Electric Vehicle

Upfront Cost$800 - $2,500
Total Incentives-$1,200
Net Cost$-400 - $1,300
Annual Savings$1,208/yr
Payback Period0.4 years
Lifetime ROI1559%
CO₂ Reduction4.8 tons/yr

Full Electrification Package

Total Upfront Cost
$30,300 - $59,000
Total Incentives
-$10,550
Net Cost After Incentives
$19,750 - $48,450
Annual Energy Savings
$2,106/year
Lifetime Savings (18 years)
$37,902
Simple Payback
18.4 years
💡

Best ROI for Wyoming

Based on your state's energy costs and climate, EV Charger offers the best return on investment with an average payback of 0.4 years and an ROI of 1559%.

0.0 years slower than average compared to the national average.

Ready to electrify your Wyoming home?

Get free quotes from local contractors who specialize in heat pumps, solar, and electrification.

Get Free Quotes →