Energy Cost Formula:
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Definition: This calculator estimates the cost of energy consumption based on power usage, time, and electricity rate.
Purpose: It helps solar panel users and energy-conscious consumers understand the cost implications of their power usage.
The calculator uses the formula:
Where:
Explanation: The power consumption multiplied by time gives total energy used (kWh), which is then multiplied by the cost per kWh to get total cost.
Details: Understanding energy costs helps in budgeting, comparing solar vs grid costs, and making informed decisions about energy usage.
Tips: Enter the power consumption in kW, time in hours, and electricity rate (default $0.12/kWh). All values must be > 0.
Q1: How do I convert watts to kW?
A: Divide wattage by 1000 (1 kW = 1000W). For example, 1500W = 1.5kW.
Q2: What's a typical electricity rate?
A: In the US, rates average $0.12-$0.20/kWh, but check your local utility for exact rates.
Q3: How can I use this for solar panel calculations?
A: Compare the calculated grid energy cost with your solar panel system's cost to determine savings.
Q4: Does this include taxes and fees?
A: No, this is just the base energy cost. Add 10-20% for typical utility fees and taxes.
Q5: Can I calculate monthly costs?
A: Yes, multiply daily usage by 30, or enter total monthly hours directly.