Electricity Cost Formula:
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Definition: This calculator estimates the cost of electricity consumption based on power usage, duration, and electricity rate.
Purpose: It helps homeowners and businesses understand and predict their electricity expenses for specific devices or systems.
The calculator uses the formula:
Where:
Explanation: The formula converts watt-hours to kilowatt-hours (by dividing by 1000) then multiplies by the cost per kWh.
Details: Understanding electricity costs helps with budgeting, energy efficiency improvements, and comparing appliance running costs.
Tips: Enter the device's power in watts, usage time in hours, and electricity rate (default $0.12/kWh). All values must be > 0.
Q1: Where can I find my electricity rate?
A: Check your utility bill or contact your electricity provider. The national average is about $0.12-$0.15 per kWh.
Q2: How do I find a device's power consumption?
A: Check the device label, manual, or use a wattage meter. Many appliances list their power in watts.
Q3: Can I calculate monthly costs with this?
A: Yes, multiply daily usage hours by 30 or enter the total monthly hours directly.
Q4: Why divide by 1000 in the formula?
A: Utility companies charge per kilowatt-hour (kWh), and 1 kWh = 1000 watt-hours.
Q5: Does this include all electricity charges?
A: This calculates energy costs only. Your bill may include additional fees like delivery charges or taxes.