# Electricity Cost Calculator

By Mateusz Mucha
Last updated: Aug 18, 2021

The electricity cost calculator allows consumers to estimate their annual electricity cost in a straightforward way. After you pay your monthly bills for a while it's normal to ask: how much does electricity cost? By simply entering a few values in this electricity calculator will save yourself time and effort as well as getting a precise answer to the question. It well help you calculate, for example, the money you would save if you switched to LED bulbs. You might also want to check out our electricity cost - single usage calculator or meeting cost calculator.

## How does the electricity cost calculator work?

It's rather simple. If you know the value for power consumption, energy price and usage time, the calculator will automatically display how much power you consume per day and generate the exact annual price for electricity. You can also change the units at will (for example change days to months or watts to kilowatts).

## How much does electricity cost?

Let's say that our utility bill comes to the following:

1. power consumption: You consume `1000 watts` of electricity
2. energy price is `€0.28/kWh`
3. usage time is `10 hours/day`

If we know that, then our electric bill estimator will tell us that we'll consume `10 kWh / day` and the annual cost will be `€ 1022.70`.

Let's do the math by hand:

1. `power consumption * usage time = power consumed`. So we'll consume `10000 watt hours` or `10 kilowatt hours` of power every day.
2. The electricity cost is `cost = power consumed * energy price`. It's easy: `10 kWh per day * €0.28/kWh = €2.8 per day`.
3. For the annual cost, simply multiply the daily one * the number of days in a year. `€2.8 per day * 365.25 days = €1022.70`. Same as the electricity cost calculator told us (surprised?).

Now that you know how much electricity costs, you might be interested in saving money with the price per quantity and the discount calculators or knowing how much charging your car contributes to the bill.

## FAQ

### What are the factors affecting electricity costs?

Your electricity costs are affected by

1. power rating of appliances used,
2. time duration for which it is used, and
3. per unit cost of electricity.

### How do I estimate electricity costs?

To estimate electricity costs:

1. Find out power consumed by multiplying power consumption of devices and usage time.
2. Multiply the product with energy price to obtain total cost.
3. Add taxes to the resultant, if any.

### How do I reduce my electricity costs?

In order to reduce your electricity costs,

1. Identify the power-consuming appliances at home.
2. Replace them with lower power rating equipment or power-saving appliances.

### What are some major power consuming appliances at home?

Major power-consuming appliances in a common household are Heating, Ventilation, and Air Conditioning (HVAC) systems, Lighting, followed by Television and entertainment systems.

Mateusz Mucha
Power consumption
W
Energy price
\$ / kWh
Usage time
hours /
per day
Power consumed
kWh /
per day
Cost
\$ /
per year
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