To calculate the annual cost of your household appliance you,
- Estimate the number of hours per day an appliance runs
- Find the wattage of that appliance
- Find the daily energy consumption using this formula: Wattage x Hours Used Per Day / 1000 = Daily Kilowatt-hour consumption
- Find the annual energy consumption by multiplying your Daily Kilowatt-hour Consumption by the number of days the appliance is used
- Find the annual cost by using: Annual energy consumption x utility rate per kWh