How Much Does an Old Refrigerator Really Cost to Run?
That old refrigerator still keeps the milk cold, but it may be quietly adding to your power bill every month. The only way to know is to measure it. Here is how, and how to decide whether replacing it makes financial sense.
Measure, don't guess
A plug-in electricity usage meter costs about the price of a takeout dinner and gives you a real figure. Plug the refrigerator into it and leave it for at least a week of normal use, then multiply the daily kilowatt-hours by 365 for an annual estimate.
No meter? The yellow EnergyGuide label, if it is still inside the door, shows the estimated yearly use when the fridge was new. Real-world use is usually higher after years of wear.
Turn kilowatt-hours into dollars
Multiply annual kWh by your electricity rate, which is printed on your utility bill. As a worked example:
| Refrigerator | Annual use (example) | Cost at 14¢/kWh |
|---|---|---|
| Old top-freezer, 20+ years | 1,100 kWh | about $154 |
| Older side-by-side in a hot garage | 1,400 kWh | about $196 |
| New ENERGY STAR top-freezer | 400 kWh | about $56 |
These figures are illustrations, not measurements of any specific model. Your numbers will depend on size, age, location and condition.
When a new model pays for itself
Divide the price of a new refrigerator by the yearly saving. If the old fridge costs $150 a year to run and a new one costs $55, the $95 saving takes many years to repay a mid-priced model. Energy savings alone rarely justify replacement — but combined with a repair bill, a hot-garage location or a second fridge you barely use, the math changes. ENERGY STAR's refrigerator guidance compares certified models.
Cheap ways to cut the cost first
- Vacuum the condenser coils.
- Set the fridge to about 37 °F and the freezer to 0 °F.
- Check the door seal with the paper test; a gasket that no longer grips leaks cold air constantly. Here is when it makes sense to replace a worn refrigerator door gasket instead of the whole fridge.
- Leave a few inches of clearance around the cabinet.
Unplugging the second fridge
If the garage fridge mostly holds drinks, retiring it may save more than any upgrade. When you do, follow our refrigerator removal guide — refrigerators need refrigerant recovery before they can be scrapped.
Frequently asked questions
Is a second fridge in the garage expensive?
It can be. An old refrigerator in a hot garage runs much longer than one indoors, and older models already use more energy. Measuring it with a plug-in meter for a week gives you a real number.