Running cost for the Summit LTM10PL
The Summit LTM10PL is certified by ENERGY STAR at 296 kWh a year, cheaper than most models in its category to run among refrigerators currently certified.
That $56 is priced at 18.8¢/kWh, the average of all 51 state rates this site tracks. Your own state's rate is one click away.
How the Summit LTM10PL compares to other refrigerators
Against the category average of 386 kWh/yr, this model uses 23.3% less, ranking 1,688 of 4,704 refrigerators tracked here for running cost. 4,704 certified refrigerators, one average, about $17/year of daylight between it and this model; the full methodology has the rest.
Neighbouring models
Right next to the Summit LTM10PL on that list: Summit LTM10B ($56/yr, 296 kWh/yr) runs slightly less, while Summit LTM10SS ($56/yr, 296 kWh/yr) runs slightly more.
Comparing Summit's own models
Ranked 11 of Summit's 148 certified refrigerators, this sits between the ADRD15 ($48/yr, the brand's cheapest) and the S4D18WIM ($102/yr, its priciest).
What this adds up to over time
NAHB's Study of Life Expectancy of Home Components puts a typical refrigerator's service life at 13 years; run the Summit LTM10PL that long and it costs about $723 in electricity, on top of whatever it cost to buy.
Shopping for a new one
Efficient as certified refrigerators go, $56/year is a reasonable baseline if you're comparing what else is on the market.
Worth comparing a few current certified models before deciding.
If you're keeping it
A refrigerator like the Summit LTM10PL is a real household expense whether or not it needs replacing yet; a protection plan is one way to budget for a repair rather than a full replacement.
How this was checked
Two sourced numbers, nothing modeled: ENERGY STAR's certified kWh/yr for this exact model, and EIA's published state electricity rate. Ranked 1,688 of 4,704, the Summit LTM10PL sits in the middle of the refrigerator category, see the guide to why your state changes this number for the other half of the math.