The formula to calculate the Price Per Watt (PPW) is:
\[ PPW = \frac{TC}{TW} \]
Where:
Price per watt is a measure of the cost efficiency of an electrical device or a solar panel installation. It represents the cost for each watt of power that the device or system can produce or consume. This metric is particularly useful when comparing the cost-effectiveness of different products or energy solutions, as it allows for a direct comparison regardless of their size or power output.
Let's say the total cost (TC) is \$500, and the total watts (TW) is 100. Using the formula:
\[ PPW = \frac{500}{100} = 5 \, \text{\$/W} \]
So, the price per watt (PPW) is \$5 per watt.