Benefits of Electrification

New Mexico

500 thousand households out of 780 thousand total households would benefit from bill savings today.
The average household in NM will save $263 on their energy bills.
585 thousand metric tons of CO2e emissions will be avoided just through heat pump technology across the 500 thousand households saving money.
1,500 installation jobs that cannot be automated or offshored will be created.
Percent of households in a given area that would immediately save on their monthly energy bills if they switched to modern, electric appliances.
Percent households saving
0%
100%

All Electrification Benefits

savings
At least 64% of households in New Mexico 500 thousand — could save $131 million a year on energy bills if they were using modern, electrified furnaces and water heaters instead of their current machines.
Percent of households that save money
0%
100%
jobs
Electrification would create 1,500 installation jobs in New Mexico. In addition, nationwide, it would further generate 80,000 manufacturing jobs and 800,000 indirect and induced jobs.
Installation
Electricians, plumbers, contractors
Manufacturing
Factory, assembly line, and supply chain workers
Indirect
Truck drivers, welders, mine engineers, accountants
Induced
Service, retail, food & beverage workers, teachers
savings
Of the households in New Mexico that would save by electrifying, 49% are low- and moderate-income. Each year, they would save an average of $271.
Low- and moderate-income households are those making up to 80% of local area median income.
49% of households that save in New Mexico are LMI
49%

4 in 10 adults would have difficulty covering an unexpected $400 expense.

Source: Federal Reserve
health
Electrifying household appliances would address the 42% increased risk of children experiencing asthma symptoms associated with gas stove use.
Furthermore, outdoor air pollution from residential buildings currently accounts for 15,500 premature deaths in the United States per year.
INDOOR POLLUTANTS EMITTED BY GAS STOVES
NO2
Nitrogen Dioxide
CO
Carbon Monoxide
HCHO
Formaldehyde
PM2.5
Particulate Matter (2.5 microns)
savings
The savings are biggest for the 411 thousand households in New Mexico across every county who are currently using electric resistance, fuel oil, or propane and would save $319 per year on average.
Some households using natural gas would also save on annual energy bills. The number of households that would save and the average savings will continue to increase given the trajectory of heat pump technology improvements.
# of FurnacesAvg. savings if electrified# of Water HeatersAvg. savings if electrified
Electric Resistance0.11M$223 / yr0.30M$254 / yr
Fuel Oil1.1K$285 / yr0$0 / yr
Propane56.4K$318 / yr41.0K$277 / yr
environmental
Furnaces, water heaters, dryers, and stoves account for at least 95% (360MMT) of residential building emissions in the United States but are replaced just once every 10–25 years.
Unless we choose modern, electrified replacements for these machines, we will continue to need dirty infrastructure to power our homes, never getting to zero emissions.

Appliances to be replaced at end of life

Unless we choose modern, electrified replacements for these machines, we will continue to need dirty infrastructure to power our homes, never getting to zero emissions.

0100K200K300K400K0.5M
Furnaces
Water Heaters
Dryers
Fuel source
Propane
Natural Gas
Fuel Oil
Resistance Electric
Fuel source
Propane
Natural Gas
Fuel Oil
Resistance Electric

Details

County
% Households saving (#)
Average Savings / Household
Emissions reduction (CO2E)
Fact Sheet

Downloads

New Mexico Benefits of Electrification Fact Sheet

PDF of benefits and appliance replacement graphs.

Data by location

XLSX of states, counties, and congressional districts.

Methodology

For more information about this data, see our methodology page.