Cost per kWh Formula:
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Definition: This calculator determines the operating cost per kilowatt-hour for a heat pump based on electricity prices.
Purpose: It helps homeowners and businesses estimate the energy costs associated with running a heat pump system.
The calculator uses the formula:
Where:
Explanation: The cost per kWh for heat pump operation is directly equal to the electricity price per kWh.
Details: Understanding this cost helps in budgeting energy expenses and comparing heat pump efficiency with other heating systems.
Tips: Enter your local electricity price in dollars per kWh. The value must be greater than 0.
Q1: Is this the actual operating cost?
A: This is the base electricity cost. Actual operating cost depends on heat pump efficiency (COP) and usage patterns.
Q2: What's a typical electricity price?
A: In the US, average residential electricity prices range from $0.10 to $0.30 per kWh.
Q3: How does heat pump efficiency affect this?
A: More efficient heat pumps (higher COP) deliver more heat per kWh, effectively reducing cost per unit of heat delivered.
Q4: Should I include all utility fees?
A: For accurate estimates, use the total price you pay per kWh including all delivery charges and fees.
Q5: How can I reduce my heat pump operating costs?
A: Consider time-of-use rates, improve insulation, maintain your system, and use a programmable thermostat.