Cost Formula:
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Definition: This calculator estimates the hourly cost of electricity based on power consumption in kilowatts and the cost per kilowatt-hour.
Purpose: It helps homeowners, businesses, and energy professionals determine electricity costs for appliances, equipment, or entire facilities.
The calculator uses the formula:
Where:
Explanation: The power consumption is multiplied by the electricity rate to determine the hourly operating cost.
Details: Accurate cost estimation helps with budgeting, energy efficiency decisions, and comparing operating costs of different equipment.
Tips: Enter the power consumption in kW and the cost per kWh (default $0.12). All values must be > 0.
Q1: How do I find my appliance's kW rating?
A: Check the nameplate or specification sheet. For watts, divide by 1000 to get kW.
Q2: What's a typical cost per kWh?
A: Residential rates average $0.12-$0.20/kWh in the US, but check your utility bill for exact rates.
Q3: Can I calculate daily/monthly costs with this?
A: Multiply the hourly cost by operating hours (e.g., 24 for daily, 720 for monthly).
Q4: Does this include demand charges or other fees?
A: No, this only calculates energy consumption costs. Commercial users may have additional charges.
Q5: How accurate is this calculation?
A: It's precise for constant loads. For variable loads, consider using average consumption.