Calculate HomeLab Costs (Rough Estimate)

  1. Find the daily energy consumption using the following formula:(Wattage × Hours Used Per Day) ÷ 1000 = Daily Kilowatt-hour (kWh) consumption
  2. Find the annual energy consumption using the following formula:

    Daily kWh consumption × number of days per quarter = quarterly energy consumption 

  3. Find the annual cost to run the appliance using the following formula:Quarterly energy consumption × utility rate per c/kWh = quarterly cost in cents to run appliance
  4. Convert cents to dollars

    Quarterly cost in cents × 100 = quarterly cost in dollars to run appliance