Electricity Cost Formula:
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Definition: This calculator estimates the cost of electricity consumption based on power in kilowatts, time duration, and cost per kilowatt-hour.
Purpose: It helps homeowners, businesses, and energy professionals estimate electricity costs for appliances, equipment, or entire facilities.
The calculator uses the formula:
Where:
Explanation: The formula multiplies power by time to get energy consumption (kWh), then multiplies by the cost rate to get total cost.
Details: Accurate cost estimation helps with budgeting, energy efficiency planning, and comparing appliance operating costs.
Tips: Enter the power consumption in kW, time duration in hours, and cost per kWh (default $0.12). All values must be > 0.
Q1: How do I convert watts to kilowatts?
A: Divide watts by 1000 (1 kW = 1000 W). For example, 1500W = 1.5 kW.
Q2: What's a typical cost per kWh?
A: In the US, average is $0.12-$0.15/kWh, but varies by location and time of use.
Q3: Can I calculate monthly costs with this?
A: Yes, multiply daily usage hours by 30, or enter monthly kWh directly in the power field.
Q4: Does this include fixed charges or taxes?
A: No, this calculates only the variable energy cost. Add fixed fees separately.
Q5: How accurate is this calculation?
A: It provides a good estimate, but actual costs may vary with power fluctuations and tiered pricing.