Electricity Cost Formula:
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Definition: This calculator estimates the cost of electricity based on energy consumption and the rate charged per kilowatt-hour.
Purpose: It helps homeowners, businesses, and energy professionals estimate electricity costs for budgeting and analysis.
The calculator uses the formula:
Where:
Explanation: The energy consumption is multiplied by the rate to calculate the total cost.
Details: Accurate cost estimation helps with budgeting, comparing energy providers, and evaluating energy efficiency measures.
Tips: Enter your energy usage in kWh and the electricity rate in $/kWh (default 0.12). All values must be > 0.
Q1: Where can I find my energy consumption?
A: Check your electricity bill or smart meter for kWh usage over your billing period.
Q2: What's a typical electricity rate?
A: Rates vary by location but average around $0.12/kWh in the US (as of 2023).
Q3: Does this include taxes and fees?
A: No, this calculates base cost only. Add 10-20% for typical taxes and service charges.
Q4: Can I use this for solar calculations?
A: Yes, you can calculate savings by comparing grid rate with your solar cost per kWh.
Q5: How accurate is this calculator?
A: It provides basic estimates. For precise billing, consult your utility provider.