Re: How many people are calculating their electricity costs incorrectly?
Take the constant number of Watts being drawn from the wall outlet and divide it by 1000. This converts Watt Hours into Kilowatt Hours (kWh). Then multiply that by 24 hours per day, then by 30 average days per month, then by your cost per kWh.
In my Example:
650 ÷ 1000 = 0.65 (kWh)
0.65 X 24 = 15.6 (kWh per day)
15.6 X 30 = 468 (kWh per month)
468 X 0.12535 = $58 (actual cost per mo.)
just because you use word: incorrectly...
It should be:"Take the constant number of Watts being drawn from the wall outlet and divide it by 1000. This converts Watt into Kilowatt (KW)." - you just can't change into different unit type of measure, by multiplying/dividing by a number.
650W ÷ 1000 = 0.65 (kW)
0.65kW x 24h = 15.6 (kWh per day)