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The average hand-held hair dryer runs at 1400 watts. This uses approximately 1.4 kilowatt hours of electricity. If you assume an average cost of electricity of 8.14 cents per kilowatt hour, it costs about 11.3 cents per hour to run the average hand-held hair dryer.
Source:
Nebraska Public Power District: Electric Usage In Your Home
Mother Earth News: Yikes! My hair dryer uses HOW much electricity?
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