Submersible Well Pump Electricity Cost

Submersible Well Pump Electricity Cost

I have a 1hp Goulds 7 gal/min submersible well pump that I share with a neighbor. We were trying to get an idea of the electric cost to run it so we can split the cost. If the well is 400 ft deep, electricity costs $0.12/kwh and we're running 360 gal/day for my neighbor's use, I get $26.78 as the cost per year to run the pump for my neighbor (assuming .5 wire to water efficiency--is that a good estimate for an older well pump?). Let me know if I'm doing this right. Thanks!

Aaron

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