Quick answer: cost depends on daily kWh and your rate
Use daily kWh × electricity rate × days. Daily energy is more useful than guessing from age, size or a maximum wattage. A meter reading over several normal days or a comparable EnergyGuide annual-kWh figure gives a defensible starting point.
| Daily energy | 30-day cost | 365-day cost |
|---|---|---|
| 0.75 kWh | $4.05 | $49.28 |
| 1.00 kWh | $5.40 | $65.70 |
| 1.50 kWh | $8.10 | $98.55 |
| 2.00 kWh | $10.80 | $131.40 |
These rows are scenarios, not typical-consumption claims. Room temperature, door openings, condition and model can change the result.
Measure a representative period
Record several days of cumulative kWh with a suitable, permitted meter, then divide by the observed days. Include normal door openings and food loading. A nearly empty spare fridge in a cool week may not represent summer use in a warmer room.
For an appliance you have not bought, compare the annual kWh on compatible EnergyGuide labels. The FTC explains that label operating costs are estimates. Apply your own electricity rate and keep the standardized estimate separate from an at-home measurement.
Use a full-year calculation
A hypothetical daily average of 1.50 kWh becomes 547.5 kWh over 365 days. At $0.18/kWh, the annual electricity cost is $98.55, averaging about $8.21 per calendar month. This annual method uses 365 days, unlike a twelve-by-thirty-day planning shortcut.
If a replacement uses an estimated 300 kWh per year, its energy cost at the same rate is $54. The illustrative difference is $44.55 per year, before purchase, delivery or disposal costs.
Ask what the extra space achieves
List what the second fridge holds during an ordinary week. Distinguish regularly used food storage from items that could fit in the primary fridge after reorganizing. Savings from bulk food purchases count only if the food is actually used and the purchases are cheaper after all relevant costs.
A second unit may be worthwhile for convenience, but that is a separate benefit from lowering the electricity bill. Avoid treating every grocery discount as a refrigerator energy saving.
Compare keep, replace and retire
Keeping a functioning unit has no new purchase cost; replacing it adds an upfront amount; retiring it removes storage as well as its running cost. Check safe food storage arrangements before switching anything off. Follow manufacturer and local disposal guidance for an unused refrigerator. In a rental, confirm ownership first. Write a one-year and a longer-term comparison so a small annual saving does not disguise a large replacement expense.
Keep, replace or retire: compare complete costs
| Option | Include | Do not assume |
|---|---|---|
| Keep | Measured annual electricity and useful storage | That an older unit must be uneconomic |
| Replace | Purchase, delivery, disposal and replacement electricity | That the energy saving repays the purchase quickly |
| Retire | Food-storage plan and disposal requirements | That every bulk purchase was saving money |
Using the article’s illustrative figures, replacing a 547.5 kWh/year unit with a 300 kWh/year model saves 247.5 kWh, or $44.55 a year at $0.18/kWh. Divide the full replacement cost by that annual difference only after confirming that the alternatives provide comparable storage and service.
Choose your next step
Continue with the question that matches your next decision:
Sources & further reading
Numerical examples are illustrative unless explicitly described as measured. This guide does not claim hands-on product testing. Read the methodology and editorial disclosure.