Infinite projected entangled-pair states (iPEPS) provide a powerful tensor network ansatz for two-dimensional quantum many-body systems in the thermodynamic limit. In this paper, we introduce an approach to accurately compute the energy variance of an iPEPS, enabling systematic extrapolations of the ground-state energy to the exact zero-variance limit. It is based on the contraction of a large cell of tensors using the corner transfer matrix renormalization group method to evaluate the correlator between pairs of local Hamiltonian terms. We show that the accuracy of this approach is substantially higher than that of previous methods and we demonstrate the usefulness of variance extrapolation for the Heisenberg model, for a free fermionic model, and for the Shastry-Sutherland model. Finally, we apply the approach to compute $\langle \langle {\mathcal{L}}^{†}\mathcal{L}\rangle \rangle$ for an open quantum system described by the Liouvillian $\mathcal{L}$ in order to assess the quality of the steady-state solution and to locate first-order phase transitions, using the dissipative quantum Ising model as an example.

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• Frustrated magnetism
• Open quantum systems
• Quantum spin models
• Strongly correlated systems
• Projected entangled pair states
• Tensor network methods