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The United States (US) Clean Power Plan established state-specific carbon dioxide (CO₂) emissions reduction goals for fossil fuel-fired electricity generating units (EGUs). States may achieve these goals through multiple mechanisms, including measures that can achieve equivalent CO₂ reductions such as residential energy efficiency, which will have important co-benefits. Here, we develop state-resolution simulations of the economic, health, and climate benefits of increased residential insulation, considering EGUs and residential combustion. Increasing insulation to International Energy Conservation Code 2012 levels for all single-family homes in the US in 2013 would lead to annual reductions of 80 million tons of CO₂ from EGUs, with annual co-benefits including 30 million tons of CO₂ from residential combustion and 320 premature deaths associated with criteria pollutant emissions from both EGUs and residential combustion sources. Monetized climate and health co-benefits average $49 per ton of CO₂ reduced from EGUs (range across states: $12–$390). State-specific co-benefit estimates can inform development of optimal Clean Power Plan implementation strategies.