Electricity Cost Formula
Electricity cost represents the amount paid for electrical energy consumption. It depends on the power consumed, the time the electrical equipment operates, and the electricity tariff charged by the utility provider.
Electricity Cost Formula
Electricity Cost = Power (kW) × Time (hours) × Electricity Tariff
Formula Explanation
- Power (kW) – Electrical power consumption of the device.
- Time (hours) – Duration the device operates.
- Electricity Tariff – Cost per unit of electricity (per kWh).
The result represents the total cost of electricity consumed by a device or system.
Example Calculation
If a machine consumes 5 kW of power and runs for 10 hours with an electricity tariff of $0.12 per kWh:
Electricity Cost = 5 × 10 × 0.12 = $6
This means the machine will cost $6 to operate for that period.
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