The average cost is $0.12 per Kilowatt hour. You will then multiply the three (power consumption, operating hours, cost of electricity) together to calculate total cost per month.Click to see full answer. Besides, does a well pump use a lot of electricity?Well pumps use a huge amount of energy every time they start up. It is not uncommon for people to have 3/4 hp pumps installed in their wells equaling 30 minutes of pumping per day or 350 kWh/yr, while a ½ hp pump, which uses only 240 kWh/yr, would be sufficient.Likewise, how much power is needed to run a well pump? Consumer reports says a well pump runs about 700 watts. Multiply that by 3 to get a rough estimate of the starting wattage for the pump and you run about 2100 which still leaves plenty of wiggle room in terms of wattage. Secondly, how much does it cost to pump water from a well? Average Well Pump Prices. The average price of a new well pump falls between $200 and $800 depending on size and type. Submersible pumps range between $200 and $1,200 while jet pumps cost $100 to $800 before installation. Solar units will run you at least $2,000.How much does it cost to run a well pump per month?A constant-pressure well pump costs $2,000 to $5,000 installed on average. A constant-pressure system runs continuously if there’s at least a 1-GPM demand on the water supply, and the tank capacity required could be as low as 20 gallons.