A tool designed to estimate the monetary value of power usage, based on the amount of electricity consumed and the applicable rate charged by the utility provider. For instance, an appliance operating for a specific duration draws a certain number of kilowatt-hours (kWh). Multiplying this value by the price per kWh provides an approximation of the expense incurred.
This resource plays a crucial role in financial planning and energy management. By providing insights into the expenditure associated with power utilization, it empowers individuals and organizations to make informed decisions regarding appliance usage, conservation efforts, and investment in energy-efficient alternatives. Historically, such calculations were performed manually, often leading to inaccuracies. The advent of digital tools streamlined the process, making it more accessible and reliable.